wasn't bribing the congresscritters either, I bet

Tan man headed to the can.

spray on fraud

Now if they would only go after the corrupt bastards at the Fed......

Government Motors T-Shirt
Government Motors Tee

I thought it would take forever.. BTW guess where tan man's younger brother used to work.

Only took 4 years a little Fuc*ing late wouldn't you say...? I am sure he will get the Ken Lay treatment.

Modzilla screwed people on the way up, and screwed people on the way down...but he is a small town player....we have bigger fish to fry....none the less I think Ill light a cigar in celebratory fashion.

I say 4 years because I have been following the Countrywide scam since 05...

As I said.. I thought it would take forever.

//Only took 4 years a little F****** late wouldn't you say...? I am sure he will get the Ken Lay treatment.//

it's a civil suit... no jumpsuit

spray on fraud

That sh*t stains

I don't know how they could have found enough evidence to implicate the Tan Man...

Insider Trading - Mozilo Angelo R - Portfolio Holdings (Majority Ownership)

And Take a name... what if he doesn't have any tan lines?

Surely the SEC can do better than that.

no jail time since they are not filing a criminal complaint.

So if all goes according to plan he will pay a $1 fine that will be it and the Obama administration will be able to claim another victory which the compliant media will gleefully lap up. It does wonders when you can buy a government.

A very good article about unemployment below. It also has information about the census hiring and firing in it for those of you interested.

Part-timers form a hidden unemployment rate

Because of the surge of Census hiring, April unemployment only rose to 8.9 percent -- a much slower increase than had been feared. But the latest unemployment figures aren't likely to get similar help.

Consider the numbers:

--The 8.9 percent April unemployment rate was based on 13.7 million Americans out of work. But that number doesn't include discouraged workers, or people who gave up looking for work after four weeks. Add those 700,000 people, and the unemployment rate would be 9.3 percent.

--The official rate also doesn't include "marginally-attached workers," or people who have looked for work in the past year but stopped searching in the past month because of barriers to employment such as child care, poor health or lack of transportation. Add those 1.4 million people, and the unemployment rate would be 10.1 percent.

--The official rate also doesn't include "involuntary part-time workers," or the 2 million people like Noel who took a part-time job because that's all they could get, plus those whose work hours dropped below the full-time level. Once those 9 million workers are added to the unemployment mix, the rate would be 15.8 percent.

All told, nearly 25 million Americans were either unemployed, underemployed, or had given up looking for a job in April.

Yahoo! 404 - Page Not Found

We, the jury, hereby sentence Mambo Mozillo to invest his net worth into U.S. long bonds until he is dead.

Creditcriminals,

From last topic. I am a super dope. Why won't REITS go down? Them not is killing me. I have to believe in fundamentals but they don't look to apply here. thanks in advance for any wisdom.

Jeff - the losses are not a matter of Qly records...they still can point to 5/7 years of great earnings. Nothing as good as buying stuff by believing the images in the rear view mirror.

What crimes did he commit? He was implementing the intent of the Federal Govt - to get more people into home ownership... The Congress set the policy and the financial system implemented it and found a way to profit on it... too bad no one was watching the systemic risk, although John McCain tried to raise the issue in committee but got shouted down.... I dont think there was even one borrower who was crying at the time they signed the loan docs and got possession of their new home... I dont think Mozillo sold any extravagant amounts of stock at any time - all executives who get stock and options as part of their compensation normally sell some to diversify their holdings or to support their lifestyle....

I know Mozillo is held up as the man to hate in this mess but all I see is a businessman who worked hard for almost 30 years building up his business, following the rules laid down by Congress... Forcing the lenders to make bad loans to borrowers who didnt have a prayer of paying them back needs to be laid at the door of the Congress, not on the lenders...

What if the FED says it is not going to buy treasuries. The yields would rise. And everything would tank money would flow back into short treasuries again we would have a repeat of Nov 08

The FED has a choice support the dollar or support stocks and the banks. Trying to have a little bit of both is not working.

yes speed, up, trending up.

USD going down.

--bh

Bearly

Smoke and teleprompters. Smoke for dramatic effect...

Sparkle

Thanks for the link. Similar activity in BAC at the end of April.

Tim,

Policy Neither/Nor.

Time to duck and cover.

--bh

the recovery will start when you finally decide to go back to work...

You're going to be waiting a long time, bud.

I'm done.

--The official rate also doesn't include "involuntary part-time workers," or the 2 million people like Noel who took a part-time job because that's all they could get, plus those whose work hours dropped below the full-time level. Once those 9 million workers are added to the unemployment mix, the rate would be 15.8 percent.

i.e., the U-6 number, which ought to be the reported one.

If the SEC were homeland security would we be at level ORANGE?

"The FED has a choice support the dollar or support stocks and the banks. Trying to have a little bit of both is not working."

Well put. I think this "have your cake and eat it too" mentality is really confusing the markets... we keep swinging from deflation to inflation and back. Perhaps the USG's biggest mistake here is not clearly signaling what it is trying to do.

[He was implementing the intent of the Federal Govt "]

That's why naming Frankin Rains, Barney Frank, Chris Dodd, & the entire Financial Services committes co-conspirators would be appropriate.

kilroy,

On the contrary it's stating exactly what it wants to do and who it wants to save, but the wheels have already fallen off the bus.

--bh

veneer, petina, shelac...

BH--You're right--it's more like when the wife's nail polish remover spills on the dresser and the finish dissolves completely.

zigging and zagging to the close!

Is there anyone on the board who disagrees with either of those?

If Geithner is a member here, that would be one.

A lot of SP futures buying. Its the PPT. No other explanation.

"propping up the long bond won't work."

You have no PROOF, sir!

I hope that Bob Toll and him get along well together in their cell.

@Kilroy it's a civil suit... no jumpsuit

Well, we can always hope he fibs in the process of trying to get out of the civil charges and winds up doing a Martha Stewart...

At Lampoc inmates are allowed to hold seminars once a week. Do you think there is any interest in discussing tanning?

The LA Times has an article about "Funemployment"... No, seriously.

For the 'funemployed,' unemployment is welcome -- latimes.com

Funny how there weren't any of these stories when GWB was in office.

Sadly, even if this does stick, it's not like he'll be sent to a Federal PMITA prison.

So.. no criminal charges (laughable) and what happens if he's convicted.. a 'big' fine (ha!) and the trashing of his reputation (hahahahahhah!)
They can get Martha Stewart and act like that was a big deal but the uber-crooks have no real problems.

• splat