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A website, disinvitemozilo.com, is criticizing the upcoming appearance of Angelo R. Mozilo, CEO of Countrywide Financial, at the USD real estate conference Jan. 22. Details of the conference are in the post below. Says the website, "Mozilo rakes it in, while thousands are laid off." The New York Times reported on Oct. 18 of last year that the SEC had launched an informal investigation into his stock sales. Since 2005, Mozilo had dumped $300 million worth of stock, noted Gretchen Morgenson of the Times, and the sales had accelerated in late 2006, when the mortgage woes were beginning to become known. The website features a chart of Mozilo's 2007 stock sales. The irony is that Mozilo's speech is sponsored by the Burnham-Moores Center for Real Estate at the university. John Moores dumped $650 million worth of Peregrine Systems stock before the company collapsed. He was chairman during most of its existence. There are civil suits against him on the jettisoning of shares.

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Comments

Don Bauder Jan. 10, 2008 @ 9:23 a.m.

Response to post #19: I believe in free speech. With few exceptions, campuses should not prohibit anyone from speaking. But if Mozilo speaks, the public -- and not just real estate industry insiders -- should be permitted to ask him questions. He should have to answer queries from people facing foreclosure, who claim that Countrywide foisted on them a mortgage they clearly could not afford. If USD shields Mozilo, protecting him from tough questions, then it will have violated free speech conventions. Best, Don Bauder

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Don Bauder Jan. 10, 2008 @ 9:24 a.m.

Response to post #20: I don't mind when someone tells Mozilo -- or me -- to go to hell. However, I do think that ethnic slurs and organized crime references are out of bounds. Best, Don Bauder

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Anonymous Jan. 10, 2008 @ 1:02 p.m.

Countrywide questioners get expected welcome..."Don't tase me bro!"

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Anonymous Jan. 9, 2008 @ 2:34 p.m.

Don, let me correct you.

It would be "ironic" if this guy were to appear at an institution named after a reputable leader. Since he's speaking at a place named for John Moores, the most notorious unprosecuted criminal in all San Diego history, it's not "ironic" at all.

At the Moores Center, it's surely apropos for crooks to brag about their thieving...

Otherwise, keep up the good work!

Best,

yet another sdblogger

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Anonymous Jan. 9, 2008 @ 4:35 p.m.

Mr. Mozilo, or as many call him the “W.O.P.- WithOut Passion”, still flies around in the corporate Gulf Stream, with private stewards traveling to his home in Cabo San Lucas, spending company money like a drunken sailor without regard for the stockholders, employees or, as he calls them, “the little people”, people with mortgages that he doesn’t care about.

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Anonymous Jan. 9, 2008 @ 4:38 p.m.

Mr. Mozilo conscience and I hope the on-going investigations of both his outrageous sale of virtually all his stock at record highs just a very short time before the public knew of the company’s problems end in him going to jail.

Mozilo is just a criminal like all the Italian Mafia- he just stole more but he’s from the same cloth.

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Anonymous Jan. 9, 2008 @ 4:47 p.m.

After reading Mr. Mozilo’s Executive Profile Bio on the Countrywide Financial website, you wonder if any of the Boards he’s on will keep him with the stigma and stench he brings with him. Everyone should write these organizations and ask if he’s still on their Board and why. The same with the awards he brags about. He’s certainly no Boy Scout and not even close to Albert Schweitzer and Horatio Alger!

PLEASE EVERYONE WRITE AND PROTEST!

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Anonymous Jan. 9, 2008 @ 4:48 p.m.

I’m being foreclosed on by Countrywide and I can only say I hope Mozilo loses all his ill-gotten gains! He deserves to burn in Hell!

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Anonymous Jan. 9, 2008 @ 4:48 p.m.

We’re losing our home, my wife and five kids because Countrywide liked and I’m going to bring my entire family from a 5-year old up to demonstrate.

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Anonymous Jan. 9, 2008 @ 4:48 p.m.

I worked for Angelo, who is name should Devilo, because he’s the scum of the earth with his fake tan and slick suits hopefully he’ll be in Hell and he can keep the tan from the heat of Hell.

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Anonymous Jan. 9, 2008 @ 4:58 p.m.

I hope those nice Armani jackets keep his ass warm in hell.

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JohnnyVegas Jan. 9, 2008 @ 5:59 p.m.

If it is any consulation, Countrywide is going to be filing BK, and soon.

The credit meltdown is only going to get worse, much worse before it gets better, and Countrywide is so upside down on their sub primes that it must fail, just a matter of time.

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Don Bauder Jan. 9, 2008 @ 7:37 p.m.

Response to post #1: OK, my use of the word ironic was wrong. Mea culpa. Best, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:48 p.m.

Response to post #5: I am sorry to hear you are losing your home. Did Countrywide give you a mortgage you could not afford? Are the resets too high for your salary? Did the mortgage salesperson point out the risks? These are questions to put to Countrywide. Good luck, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:40 p.m.

Response to post #2: If he has dumped more than $300 million worth of stock, he has to have something to do with the proceeds. I wouldn't be surprised if he gets many of the perks you mentioned in addition to salary and capital gains. I haven't checked out the company's SEC filings on the point. Best, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:43 p.m.

Response to post #3: I don't know that Mozilo unloaded all his stock. That is a matter of public record, though; I just haven't checked it. In dumping $650 million of Peregrine before the company collapsed in fraud, Moores got rid of almost all he controlled. Best, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:45 p.m.

Response to post #4: It's easy to go on the Countrywide website and find out what boards he serves on. Best, Don Bauder

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Anonymous Jan. 10, 2008 @ 9:55 a.m.

When can we demonstrate at the University President's office to stop this crook?

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Don Bauder Jan. 10, 2008 @ 1:38 p.m.

Response to post #25: I just posted an item noting that Countrywide stock zoomed 55 percent today on a rumor that Bank of America will buy the company. Damn. I own some B of A stock, although not much (I think only 100 shares.) Best, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:50 p.m.

Response to post numbers 6 and 7: If Countrywide lied, then you may be able to get redress in the courts. I hope the demonstration goes well. Best, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:53 p.m.

Response to posts numbers 8 and 9: You've consigned him to the Satansville already. Does he get an interview with St. Peter before being sent Below? Best, Don Bauder

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Don Bauder Jan. 9, 2008 @ 7:58 p.m.

Response to post #10: You're a lawyer, JohnnyVegas. You know that the company just has to walk in, file bankruptcy, and shift the problem on to creditors and the courts. Mozilo will walk off with the hundreds of millions he already has piled up by dumping stock. Countrywide stock will go down to zero, but if he has dumped most of his, he will be fine. And the SEC or the Justice Department won't do a thing. You can almost count on that. But we do have some irony here: previous posters have already decided Mozilo will fry in hell. But the bankruptcy scrubs him clean; he will be a virgin all over again, perhaps qualifying for heaven. Best, Don Bauder

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Anonymous Jan. 10, 2008 @ 7:41 a.m.

How could the President of USD, Mary E. Lyons whose phone number is 619.260.4520, allow this to happen?

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Anonymous Jan. 10, 2008 @ 8:54 a.m.

Re post #17: Don, one can hope that St. Peter gives him an 'exit interview'!

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Don Bauder Jan. 10, 2008 @ 11:39 a.m.

Response to post #23: When to demonstrate is up to you. But I repeat: he has a right to speak and the university has a right to bring him in. Since he will generate much controversy -- and hopefully thought -- arranging his appearance may have been a coup. But if he says nothing and nobody gets chance to grill him, it will be quite disappointing, and no victory for academic freedom. Best, Don Bauder

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Anonymous Jan. 11, 2008 @ 1:38 p.m.

I just recently lost my house because Countrywide foreclosed on me. I don’t know where my two small children are going to sleep.

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Anonymous Jan. 11, 2008 @ 1:39 p.m.

Every executive involved in Countrywide should be thrown in jail- all of them.

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Anonymous Jan. 11, 2008 @ 1:39 p.m.

In case anyone else is interested in writing to Mozilo to let him know exactly how they feel his home address is:

Angelo R. Mozilo 109 Rametto Rd. Montecito, CA 93108

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Anonymous Jan. 11, 2008 @ 1:41 p.m.

Mozilo seems to have a royal mentality for making comments about “the little people” when referring to the vast majority of Americans.

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Anonymous Jan. 11, 2008 @ 1:42 p.m.

I can't believe that Mozilo sent my share of Countrywide into the toilet with his mis-management! It makes me sick!

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Anonymous Jan. 11, 2008 @ 1:56 p.m.

I hope that when the investigations are complete Mr. Mozilo lands in jail. Do not pass "Go" Angelo!

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Anonymous Jan. 11, 2008 @ 1:57 p.m.

Mozilo is nothing but a thief and a crook!

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Anonymous Jan. 11, 2008 @ 1:58 p.m.

Mr. Mozilo's actions make me miss the days when people were tarred and feathered!

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Anonymous Jan. 11, 2008 @ 2 p.m.

I hope that everyone that is posting on this website is taking the time to write a letter to Mr. Mozilo expressing their disgust with his disregard for the law.

Mozilo's Home Address: Angelo R. Mozilo Chairman and CEO Countrywide Financial Corporation 109 Rametto Rd. Montecito, CA 93108

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Anonymous Jan. 11, 2008 @ 2:02 p.m.

Everyone that is upset with Mr. Mozilo and Countrywide should send an email to comments@disinvitemozilo.com committing to picket at the office of the President of USD and at his upcoming speech at the San Diego Marriott.

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Anonymous Jan. 11, 2008 @ 2:03 p.m.

I'll be there to picket!

Date: Tuesday, January 22, 2008 Start Time: 7:30 a.m. End Time: 12:30 p.m.

Note new location: San Diego Marriott Hotel and Marina

Event Description The Burnham-Moores Center for Real Estate hosts a conference featuring keynote speaker. Angelo Mozilo, chairman and CEO of Countrywide Financial Corp., and panel discussions of nationally recognized speakers. Panel discussions will focus on capital markets and trends in commercial real estate property types, as well as the profitability factor of sustainable real estate. The annual event is attended by more than 500 senior-level real estate executives and civic leaders.

Keynote Speaker Angelo R. Mozilo, Chairman and Chief Executive Officer, Countrywide Financial Corporation, Calabasas, CA

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Anonymous Jan. 11, 2008 @ 2:04 p.m.

You can download posters from http://disinvitemozilo.com/ to print at home and display in your vehicles and at the demonstrations expressing your disgust with Mr. Mozilo.

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Don Bauder Jan. 11, 2008 @ 2:36 p.m.

Response to posts 27,29 and 30: CNBC today (Friday) played old tapes of Mozilo reassuring everybody that the mortgage situation was controllable, wouldn't last long, etc. etc. The nearer the tapes got to the present, the more sober he was. Best, Don Bauder

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Don Bauder Jan. 11, 2008 @ 2:38 p.m.

Response to post #28: My heart goes out to you. Did a salesperson foist a mortgage on you that you could not afford? Best, Don Bauder

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Don Bauder Jan. 11, 2008 @ 2:41 p.m.

Response to post # 30: Montecito? I understand that makes Rancho Santa Fe look like National City. For several years, that was the home of Nancy Hoover Hunter Fletcher, Jerry Dominelli's erst lover, who lived in a posh home there while her name was Hunter. Best, Don Bauder

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Don Bauder Jan. 11, 2008 @ 2:45 p.m.

Response to posts 31 through 50: Somebody's mad at this guy. Can't say as I blame them. Best, Don Bauder

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