• Scam Diego alerts

The Burnham-Moores Center for Real Estate at the University of San Diego has snatched a speaker who should jam 'em in at the center's twelfth annual real estate conference Jan. 22 at the San Diego Marriott Hotel and Marina. That speaker will be Angelo R. Mozilo, chairman and chief executive of Countrywide Financial, Calabasas, the nation's largest mortgage lender. Rumors that the company would go into bankruptcy drove its stock down 28 percent to $5.47 yesterday. The rumors, which were denied, were one factor in a general market selloff. The stock dropped another 7.68 percent today (Wed., Jan.9) to $5.05. The high this year was $45.26. The company lost $1.2 billion in the third quarter. Mozilo has been under a Securities and Exchange Commission informal probe for dumping a bundle of stock last year before the mortgage crisis hit. USD says Mozilo is "uniquely qualified to make sense out of the residential mortgage market malaise."

  • Scam Diego alerts

Comments

Anonymous Jan. 9, 2008 @ 3:42 p.m.

Just another greedy executive with access to insider information on 30day late, foreclosure trends and other info not available or WITHHELD while shares are being dumped on gullible public.

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Don Bauder Jan. 9, 2008 @ 8 p.m.

Response to post #1: See if you can get in to the USD forum and try to ask him some questions. My guess is that he will be well shielded from any tough questions. Best, Don Bauder

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