The anti-Angelo Mozilo movement

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Cleaning off my virtual desk, I find a number of Countrywide items. Here they are, in no particular order:

--Frequent commenter Ace opines that the Bank of America buyout of Countrywide will not close. He writes, ‘B of A stock will drop until they announce the CFC deal is dead.’ He reminds me to look up Dynegy’s rescue of Enron in the fall of 2001. Remember that merger? Of course you don’t, because Dynegy backed out.

--Ace also forwards a link to the new anti-Angelo Mozilo website ‘Disinvite Mozilo,’ which was launched to protest the University of San Diego’s invitation of Mozilo to speak at a real estate conference. Mozilo has since backed out, but the blog lives on. That’s the blog banner at the top of this post.

--Disinvite Mozilo , by the way, reports that U.S. Rep. Henry Waxman has invited Mozilo to testify before Congress about his generous severance agreement. Writes Waxman, ‘I request that you be prepared to provide your perspective on this reported pay package. You should plan to address how it aligns with the interests of Countrywide’s shareholders and whether this level of compensation is justified in light of your company’s recent performance and its role in the national mortgage crisis.’

Lastly, most enjoyably, Better Village forwards this link to a jaunty photo of Mozilo. In this particular snapshot, he is waving from the Lamborghini he just won in a raffle. No, I’m not kidding.

Thoughts? Comments? Bode, certainly you have something to say, right? E-mail story tips to peter.viles@latimes.com.
Photo Credit: Disinvitemozilo.com.