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A funny thing happened to Angelo Mozilo on his way to San Diego. The chief executive of very ailing mortgage lender Countrywide Financial was supposed to give the keynote address at a University of San Diego real estate symposium Jan. 22. But San Diegan Bonnie Russell put up a website, disinvitemozilo.com, protesting the speech, partly because Mozilo is under investigation for dumping so much of his stock before the bottom fell out of the mortgage market and his company's shares. Russell had organized buses to take picketers -- mostly people going through foreclosure -- to the event. The national media picked up the story; it made the famed Page Six column in the New York Post, and Russell spoke with ABC News today (Jan. 16.) But today the event was called off "due to unforeseen scheduling conflicts." Presumably, Mozilo will be spending his time on Bank of America's pending purchase of Countrywide.

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4

Too bad he cancelled. It would have been interesting to hear him answer a question about his obscene golden parachute, among other questiontable business ethics he practiced. But that presupposes that someone in the USD audience would have asked. Given the incestuous relationship between the university's "school" of real estate and the industry, it might not have happened anyways. The bigger question is what does such an academic program teach? Is there an ethical component? Or any aspect other than how to maximize greed?

Jan. 16, 2008

Response to pst #1: As I said back when we broke this story, I am sure Mozilo would have been shielded from any sharp questioning. Only a select group has been invited. Best, Don Bauder

Jan. 17, 2008

I like to think that the combined online voices of the community warned him off.

He suddenly found scheduling conflicts.

Right after he read what we all wrote.

(yet another sdblogger)

Jan. 20, 2008

Response to post of 12:13 p.m.: I don't have the Olympian detachment to comment on such a possibility. Best, Don Bauder

Jan. 20, 2008

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