mozilo saint

Mozilo actually says he has no regrets and Countrywide did no wrong

September 2, 2014

mozilo saint

Saint Mozilo demands to be worshiped

With Bank of America shelling out $17 billion in the historic settlement with the federal government to make up for their wrongdoing in the housing crash, it is no secret that they did their best to shake off the sink of Countrywide Financial, which they acquired in 2008, filling their coffers with endlessly bloated and undocumented bad mortgages, and over $40 billion in litigation and settlement costs. Ouch.

Two years ago, before a judge, Countrywide CEO, Angelo Mozilo, said that homeowners are to blame for the mortgage crisis.

Now that the glut of toxic loans are coming to a close and Bank of America is left holding the bag, Mozilo tells Bloomberg that not only is Countrywide not at fault, he says he has no regrets.

With an off-putting use of the third person, Mozilo said of the mortgage crisis, “No, no, no, we didn’t do anything wrong. Countrywide or Mozilo didn’t cause any of that…”

***Click here to continue reading this story…***

google authorship
Google nixes experiment, website owners must know the details Anyone who owns a website knows that the Google Gods must be pleased before your site gets the maximum traffic benefits, but they continually change the rules. Google runs tests and experiments all the time, and they are quick to nix…
loyalty programs
Improve your bottom line by rewarding customers While much of the world frets over getting new customers, you probably know the value of keeping existing customers so happy that they tell everyone they know how much they love your product or service. Offering superior customer service and a quality product…

Advertise with The American Genius

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.


  1. I am definitely no fan of banks and lending institutions with regard to how they handled the aftermath of the housing crisis. However, banks were and the are the conduit for the entity truly at fault, and that is the federal government.

    Nothing in banking happens in a vacuum. Banks did what they were allowed to by legislation passed by congress. If you want to point the finger at the true genesis of the housing crisis, congress should be your target. They passed the laws and they were in charge of oversight. Not surprisingly, congress “acted” shocked and stunned when they found out that there “is gambling going on in here”. That’s a Casablanca reference for the younger set.

    I’m not saying that Mozilo was an innocent bystander. Corruption many times stems from the top. And in this case the top was and is congress.

Leave A Comment