Countrywide CEO on why he's sold $gazillions in stock

Angelo Mozilo, chief executive of Countrywide, has been selling massive amounts of his company's stock while the housing bubble deflates. Why? He says: "The reason I'm selling is that it is the majority of my net worth, and I have a big family, nine grandchildren, five children, I have a lot of education to pay for, but--so I have a lot of obligations, but I am sort of at the end of my career, not at the beginning of my career." Poor baby

August 23 video clip via CNBC.

Category:

News & Politics

Tags:

• countrywide
• greed

[gzies1]

He sold his shares cuz he knew that his company is going DOWN DOWN DOWN. Insider trading???

[plandr5]

Right like the dividend on 128 million couldn't have covered tuition and a meal plan.

[sha370z]

humans love to lie

[mumpump]

ORANGE SCUMBAG!!!

[kritikkal]

"I'm glad you asked me that because I have a really good lie I've been working on that I want to tell you....

[ginaswo]

being charged on tv right now by SEC...

by bye angelo

[Thinkingisallowed]

To Dave98503- You are right, I have an experience with a woman from CW and she was all you describe plus a liar and probably the most dishonest person I have ever known.

Doing business with CW was the stupidest thing I have ever done. It makes me sick everytime I write a check to CW to pay my mortgage. The experience has been so bad, I don't ever want to buy a house in the US again.

[Thinkingisallowed]

Angelo Mozillo is a criminal and should be in jail. However, in America the real criminals, those who hurt or kill millions of people are considered "smart" or "heros".

[jeffstudbum]

The orange man!

[BadfingerFan]

While the blimp still floats, CW's top officers stuffed their bags as fast as possible.

We need to reinstate the 95% tax bracket for the filthy rich, and, reduce taxes for the middle and lower class tax payers.

[davidluk8]

Obvious insider trading.