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Mozilo's Head on a Pike

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January 11, 2008 – Comments (7) | RELATED TICKERS: CFC , BAC

Investors should be screaming for it. This lousy, double-talking, cowardly CEO dumped his last load of shares at more than 2x the buyout price he arranged from Bank of America. This is one of the most amazing loot 'n' run jobs I've ever seen. I hope he pays the price, but I doubt it. Those who swindle with the pen rarely get in trouble.

I think a decent SEC investigator should be able to make a clear insider-trading case here, STARS plan be damned. This guy knew exactly where his trainwreck was headed, and he modified his plans to get him out before the worst.

7 Comments – Post Your Own

#1) On January 11, 2008 at 9:41 AM, jmcavalier (94.81) wrote:

Aww you're just jealous you don't have as a good a complexion as him.

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#2) On January 11, 2008 at 10:20 AM, TMFBent (99.81) wrote:

He's got more hair, that's for sure.

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#3) On January 11, 2008 at 10:23 AM, Allstar13913 (99.82) wrote:

Did I miss something?  He sold those shares in October...


Mike

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#4) On January 11, 2008 at 10:29 AM, AntiRL (< 20) wrote:

Wow, 265 Million dollars worth.  Pays to be a CEO of even an lousy corporation.

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#5) On January 11, 2008 at 11:07 AM, cabuilderboy (88.90) wrote:

Not that I am big supporter, but he has been on CNBC for over two years declaring he was selling shares, per his approved retirement plan.

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#6) On January 11, 2008 at 11:48 AM, TDRH (99.65) wrote:

Imagine he will walk away scott free.   Seems to be the nature of the beast.

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#7) On January 11, 2008 at 1:02 PM, Gtrinvestor (99.76) wrote:

He's going to need the cash to pay for all those skin cancer treatments that will inevitably come. 

Also, crooks almost always get away as long as they are as public about their deceit as Mozilo was... it's only the surreptitious acts that get people jailed.

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