Found this over at Zero Hedge…
Have You Looked at Angelo Mozilo’s Facebook Page lately?
Submitted by williambanzai7
I don’t mean to sound cynical (which I am), but has anyone in the mainstream media bothered to ask: why did the SEC decide to settle with Mozilo this week? After all, the fraudclosure scandal has turned into the mother of all subprime political heartburn episodes and the O Team must be desperate to show how it is Johnny on the spot. Election day is just two weeks away folks.
If you want my opinion, a $67.5 million settlement is really chump change when you consider all the hardship this guy can call his very own personal handy work. I don’t want chump change, I want a trial!!
How can we restore confidence in our capital markets when the regulators are perpetuating the calculus of fraud (T-F=ME Where: T=The Full Take F=Settlement Fines ME=My End)?
And what important purpose prevented them from settling with Martha Stewart?
[Update: A reader correctly points out the piece de resistance, “most of Mr. Mozilo’s financial obligations likely will be paid by Countrywide’s current owner, Bank of America Corp., as part of indemnification agreements it has with former officers. Countrywide was sold to BofA as it was collapsing in 2008” (source WSJ)].
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