Justice Denied: Fraudster Mozilo Isn't Going to Prison

redrumloa said:
http://www.dailyfinance.com/story/credit/countrywide-mozilo-fraud-no-prison-trial-sec-mortgage-meltdown-deal-crisis/19788287/?source=patrick.net#articleHeader
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Somehow not surprising. When these inter-relationships between crooks and enforcers exist in other countries it's called corruption. For some reason we don't like to use such words when describing our own system.
 
Red, I know you've dissed Taibbi and Rolling Stone before but it really is the independent investigative reporters that are turning this stuff up. The "system" isn't doing a damn thing - though there is a chance that they would if enough people pushed the right people enough - but it first requires news, real news, to get out to the public and then it requires feedback through real news so that people can track what their representatives are doing and know how to get rid of them.

There are a lot of bits of the puzzle missing if we want a society governed by the people. First thing we need is a people who know what's going on so that they can care about it, and to know how to exercise their power so that they can do something about it instead of ending up depressed.

The tea party is not the solution, it is just another problem. It is another front for the Koch brothers and their ilk. There are good people in it, but it's fronted by money and crooks just as much as the other parties. If you want a party that is clean then look for a party that has no chance. Money doesn't back losers so losers are more likely honest. Of course, voting for losers isn't likely to change the system.

Sometimes it seems that a bunch of angry peasants need to take a guy like Mozilo and dangle him from a lamp-post just to remind the fat cats that the courts aren't the only kind of justice.
 
Sorry for the thread bombing but I just had to mention some happy news.
Not everyone is getting away with their crimes.

While 1.9 billion dollars is a lot of money (if you inherited that amount at 21, and expected to live until 81, then you could afford to spend $86,000 a day and still die with money) it's still small potatoes. Still, it's something.
 
How Mozilo doesn't go to prison is shocking, very shocking. I guess I shouldn't be shocked, but I am. I was watching CNBC when he went on TV and said there were no liquidity issues in Countrywide. i knew he was full of S^&T as he spoke. 2 weeks later Countrywide imploded and it turned out Mozilo was dumping all of his stock while he was going on TV saying everything was fine. He was dumping into his own pump.

You cannot get more blatantly criminal than Mozilo. He is the poster child of the subprime crisis that helped tank the economy. I do not condone violence but if an angry mob were to string him up from a light pole, I would not shed a tear for him.
 
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