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September 17, 2010 – Comments (0)

As in this dude is:

http://finance.yahoo.com/news/Judge-clears-Mozilo-case-for-rb-3845268371.html?x=0&sec=topStories&pos=4&asset=&ccode=

Trial is cleared and set to go...man tempers are still flaring and I cannot imagine that anyone is going to be able to look at this stiuation and see Mozilo as not being complicit in his actions.

"But U.S. District Judge John Walter refused to resolve the case in Mozilo's favor on Thursday, ruling that the SEC had raised enough factual issues for it to be decided by a jury, according to court documents.

The SEC presented evidence that Mozilo's stock sales in 2006 and 2007 were "significantly out-of-line with his prior trading plans or practices," Walter wrote. Thus a jury can decide whether Mozilo acted on inside information, Walter ruled, adding that Mozilo netted over $140 million from those transactions."

And a jury trial? Man I would be worried if I were him. Aren't gonna be any of his peers sitting on that jury, that's for sure.

Fool on,

Jason

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