Angelo Mozilo Countrywide Emails Reveal Executives Knew What Was Happening Since 2005 – Emails Never Seen By Public Until Now At Piggybankblog
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Knew What Was Happening In 2005 - Never Seen By Public Until now!
Written by John Wright
February 27th, 2012
I am in receipt of some very interesting and disturbing documents that I have received anonymously from someone who claims to be an insider with the banks. The anonymous sender is the same person that had sent me the alleged Bank of America training seminar tapes a while back, in which I posted for all of you to review here on Piggybankblog.com. This time the insider claimed to be in possession of emails between the Countrywide Financial Corporation CEO and his lieutenants, in which the insider revealed to me that these emails are public documents that the government had not yet delivered to anyone pursuant to a Freedom of Information Act request, because this insider claims that they believe this is because most people are unaware that they exist to even make the request. This is why they have reached out to me with a request for me to post them here in this forum for all of you to make public.
It is important for your readers and supporters to know that you are in the trenches with the people that are battling these banks and without information like this being made public people they will continue to have their homes stolen from them. The Federal Government isn’t doing anything for them and neither is their State Government, so all they can do is get as much information as possible to defend themselves from these crooks.
The fact that Bank of America and Countrywide have denied the existence of these emails for 4 years, only for them to surface via Federal Criminal Subpoena, shows you the intent that the banks had when they committed these acts. They claimed there was no way they could have known the market was going to collapse(bullshit), yet during the boom of the market in 2005, Mozilo is already warning his lieutenants that the sky is falling. If they had that information why did they not share it with their shareholders, employees, or the public? I can tell you why, they dumped all their shares of stock during the peak of the market and walked away with billions, that’s why. Had they told the homeowners like you that the market was going soft, maybe, just maybe, you would have sold your home at the peak and waited for the market to collapse.
That is exactly what these guys did, they took their billions and now started up PennyMac with Countrywide Executives and Countrywide Money and are now picking up all the cheap real estate they can. They have the inside information and knew where all the shitty loans are since “THEY WROTE THEM”. They are now picking up the shattered pieces of the lives they have destroyed for pennies on the dollar from the very same investors they sold the shitty loans to. Look at who owns PennyMac and you will see that it is the very same group of guys that are having these discussions via email 3 years before the public knew what was coming. These guys waited in the wings, waiting to pounce when the opportunity presented itself. People have a right to know what dirt bags they are dealing with, and the fact that their Government is doing nothing to assist them, makes it even worse.
The Citibank emails and report are available in full view with Freedom of Information Act and so are the other emails I supplied you.
Mr. Wright, Senators and various Government Officials visit your site. Your site is the best compliment that a journalist could ever have.
Ladies and Gentleman of the Jury, it gives me great pleasure to present to you emails that have been reported as being evidence that the general public did not have access to previously. Therefore I submit to you exhibit A – Emails from Angelo Mozilo – that date back to the year 2005. These emails will prove once and for all that the Countrywide executives knew what was going to happen years down the line as result of their potentially irregular, fraudulent, illegal and simply unsafe mortgage practices.
The Court of Public Opinion is now in session.
All rise! The Honorable Judge John Wright has entered the courtroom.
His name is Angelo Mozilo. He was born 1938 and raised as a butcher’s son in the Bronx of New York. Angelo Mozilo was the chairman of the board and Chief Executive Officer of Countrywide, until July 1, 2008. Countrywide Home Loans was founded in 1969 by Satan (lol) – I mean David S. Loeb and Angelo Mozillo. In the beginning, Countrywide was a pioneer in the nation-wide-bank industry. This is because there was a time that Mozilo was very concerned with the credit quality for the borrowers and quality of the loans. What did Angel Mozilo think of sub-prime loans? Well, Angelo Mozilo had privately described the sub-prime loan mavericks of the 1990s as ‘crooks’. That is why it might be considered more than a self-fulfilling prophecy, after you consider that Mozilo would actually okay the use of sub-prime loans being given by Countrywide in the year 2000. So what does Angelo have to say about himself now? Does that mean he thinks he is a crook? At any rate, I guess Mozilo might have taken the ‘if you can’t beat the crooks join them’ policy. (lol) Anyway, thus, by the early 2000s, Countrywide’s golden boy (He is very tan) had decided that Countrywide would now enter into the subprime era. Angelo Mozilo’s compensation during the United States housing bubble of 2001-2006 would come under scrutiny. His salary, bonuses, options and restricted stocked was said to approach $470 million dollars, but for the record, his compensation also included payment of his annual country club dues at the Sherwood Country Club in Thousand Oaks, California, The Quarry at La Quinta golf club in La Quinta, California and Robert Trent Jones Golf Club in Gainesville. Angelo Mozilo was then investigated by the SEC for dumping 138 million of Countrywide stock between November 2006 and August 2007. These were the years just before the housing market crashed. Wow! Martha Stewart must be really pissed off! She actually went to jail for insider trading! An expert witness for the government calculates that Mozilo pocketed nearly 142 million in unwarranted profits by selling Countrywide stock at prices propped up by his alleged failure to disclose the enormous risks at Countrywide. Countrywide’s Golden Boy, Angelo Mozilo, used to be ranked as one of America’s 30 top most respected CEOs. That is until after the sub-prime meltdown his bank and him played a major role in causing. It is important to mentioin that Angelo Mozilo was then ranked by Condé Nast Portfolio in an article as the “Worst American CEO of All Time”.
Now is it me, or does the “Son of a butcher” from the Brox in New York sound like he might be in the …. nevermind. Either way, I am sure that Angelo Mozilo must be saying what this guy is saying in this youtube after these emails were made public today.
I am sure I am the only one to think of that. (Wink)
For the record, Angelo Mozilo has not been arrested or served any time for his major role in the collapse of the United States economy while at Countrywide.
His name is Stanford Kurland. Good old Stan’s career began as a Director of internal audit at Countrywide. He started his professional career in 1975 in public accounting and practiced as a CPA for the international accounting firm, Grant Thornton, before he served as the Chief Operating Officer at Countrywide, until his departure in 2006. While at Countrywide, Stanford Kurland was known for developing the strategic direction, risk management activities, financial management, and organizational development of Countrywide Financial Corporation. He was then featured in Huffington Post as the “Creep of the Week,” after it was determined that he benefited tremendously from the collapse of the sub-prime market. Then he was ranked as the “Prick of the Year” at John’s Daily Blog entry on February 27, 2012, because it has been said that Mr. Kurland is still benefiting from the sub-prime market collapse. For example, he is now Chief Executive Operator of the newly formed PennyMac. It has been said that PennyMac buys all those bad loans that Countrywide created, but buy them for pennies on the dollar. It has been said that they hope to lead the homeowner to foreclosure to collect the insurance that was taken out on the loan at top market value, such as this youtube below described about One Worst Bank.
Many claim that Stan Kurland created PiggyMac (PennyMac) with the help of United States Treasury Secretary Timothy Geithner. Thanks Timmy! Tim looks like a prick too, but maybe more like a weasel now that i think about it. Well, you know what they say, which is that if he talks like a weasel, walks like a weasel, by golly it is Timothy Geithener!
For the record, Stan Kurland has not been arrested or served any time for his major role in the collapse of the United States economy while at Countrywide.
His name is David Sambol. He received a Bachelor’s degree in Business Administration and Accounting from California State University, Northridge in 1982, before he was the President and Chief Operating Office of Countrywide Financial Corporation and Chairman and CEO of Countrywide Home Loans Inc. Sambol started working with Countrywide in 1985 and previously served as CEO of Countrywide’s Capital Markets business. Prior to joining Countrywide in 1985, Mr. Sambol served as a Certified Public Accountant with the accounting firm of Ernst & Whinney. David Sambol was part of the list of people who were widely blamed for helping foment the U.S. housing crisis through free-wheeling lending. He became a target for critics of the mortgage company’s loan practices and executive pay, but Davis Sambol would end up leaving after Bank of America Corp.‘s takeover. Bloomberg reported the following when Sambol was leaving: “Sambol and Countrywide Chief Executive Officer Angelo Mozilo have been under fire since Bank of America agreed in January to buy Countrywide for about $4 billion. Lax lending by their company, the biggest U.S. home lender, has been blamed for contributing to record U.S. foreclosures, and critics including U.S. Senator Charles Schumer had asked Bank of America to reconsider the decision to put Sambol in charge.” Bloomberg articleBye David! It has been a pleasure having you help ruin the American economy for us!
For the record, David Sambol has not been arrested or served any time for his major role in the collapse of the United States economy while at Countrywide.
His name is Eric Sieracki. Eric P. Sieracki joined Countrywide Financial Corp. in 1988 as Senior Vice President of Countrywide Asset Management Corporation. In 1989, after holding a variety of executive positions, Mr. Sieracki was promoted to Executive Vice President, Corporate Finance of Countrywide Financial Corp. He became a Managing Director in 1994 and, in June 2002, and was elected Senior Managing Director, Corporate Finance and Treasurer of Countrywide Financial Corp. Eric Sieracki would feel so unsettled about his situation that he wrote, jokingly, he contends – that he could be a “magnet [for] prosecution.” I bet he is not joking now!
For the record, Eric Sieracki has not been arrested or served any time for his major role in the collapse of the United States economy while Countrywide.
His name is Carlos M. Garcia. He served as an Executive Managing Director for Enterprise Risk Management of Countrywide Financial Corporation. Mr. Garcia also served as Chief Financial Officer of Countrywide Capital Markets Inc. and Chief Executive Officer of Countrywide Insurance Group Inc. He served as an Executive Managing Director of Banking and Insurance and Chief of Banking and Insurance Operations of Countrywide Financial Corporation. He served as Senior Vice President of Countrywide Financial Corp. since 1986, Chief Accounting Officer since 1990 and also served as Managing Director. Since 1990, Mr. Garcia served as Chief Financial Officer and Senior Managing Director of Countrywide Financial Corp. He then joined Countrywide Financial Corp. as Vice President of Finance and Chief Accounting Officer in 1984, was instrumental in guiding Countrywide’s emergence as a technological leader in the mortgage industry. He oversaw all corporate operations, including the e-Business Division, Finance, Administration, Human Resources and Information Technology. Prior to joining Countrywide, Mr. Garcia served as a Technical Reviewer in quality control and as an Audit Manager with the public accounting firm Grant Thornton. He served as Chairman of the Board and Vice Chairman of Treasury Bank, N.A. He served as Vice Chairman of Countrywide Bank. He served as a Member of the Board of Directors of Countrywide Capital Markets Inc. and Countrywide Insurance Group Inc. He graduated Summa Cum Laude with a Bachelor of Science degree in Business and Accounting from California State University, Long Beach. He is a Certified Public Accountant.
For the record, Carlos M. Garcia has not been arrested or served any time for his major role in the collapse of the United States economy while at Countrywide. .
It is alleged by this Court that the potential Defendants also willfully and knowingly caused the sinking of the American economy and spirit into the deep and cruel cold bottom of the abyss of American history, as part of a potential insurance conspiracy. In addition, this Court alleges that the potential Defendant’s financial gain solely depended on financial death of millions American homeowners and the American economy, which might be why we see so many of them still making money today off the sub-prime loan meltdown. This Court further alleges that the potential Defendants might have willfully and knowingly delivered their brothers and sisters of the entire earth into a financial and spiritual tribulation because of their greedy actions. These greedy actions might be considered the shot that was heard around the world, after you consider the global repercussions of their actions might have been contributed to the entire world’s economic instability. This Court alleges that the potential Defendants did this all in a way to not to seek the glory riches of the one true God in heaven, but instead, they unfortunately might have sought the glory and riches of man and the God of this earth, which is Greed.
Therefore, Ladies and Gentleman of the Jury, do you find that the potential Defendant’s listed in these emails guilty or not guilty of “intent” after reading the emails? – click here
In conclusion, this Court respectfully requests that the United States Justice Department investigate these emails with no further delay.
All Rise! The Honorable Judge John Wright has left The Courtroom of Public Opinion!
My name is Wright AND I AM FIGHTING BACK!
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