60 Minutes Breaks Countrywide Story

[BDBoop]

I Heart Chaos — 60 Minutes:

60 Minutes gets tired of waiting for the Justice Department to build cases against corrupt corporations and their executives. 60 Minutes says, “**** it, we’ll do it for you.” Watch this, share this, and educate yourselves on what’s going on with YOUR money.

 

[gallantwarrior]

Watch what? Link please?

 

[BDBoop]

That is the link, there's a video on it.

 

[CrusaderFrank]

Chris Countrywide Dodd

 

[MeBelle]

I am confused here. Countrywide/Angelo Mozilo was held accountable.

Countrywide CEO Mozilo settles with SEC for $67.5M - CSMonitor.com
Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission.
~~~~~~~~
Twelve minutes into the video the DOJ defends itself for not prosecuting.

 

[The Infidel]

Chris Countrywide Dodd

 

[RetiredGySgt]

I am confused here. Countrywide/Angelo Mozilo was held accountable.

Countrywide CEO Mozilo settles with SEC for $67.5M - CSMonitor.com
Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission.
~~~~~~~~
Twelve minutes into the video the DOJ defends itself for not prosecuting.

You mean Obama supporter and die hard fan BDBoop is mad at Obama's Justice Department and Democratic Senator Dodd? Must be some other reason.

 

[editec]

Yeah, it is disgusting that these execs have gotten away with this.

 

[CrusaderFrank]

Jim Johnson at Fannie and Mozilo were bffs for life!

 

[Mad Scientist]

Chris Countrywide Dodd

That's why he retired isn't it Frank? Almost 4 years late but it's good to see our Liberal friends like BDBoop are waking up!

Congress is the most corrupt institution in the history of the world.

 

[Trajan]

meet James Johnson
James A. Johnson (businessman) - Wikipedia, the free encyclopedia

he was never even called for testimony OR even interviewed for the Joint Congressional comm. on the Housing Crisis.


Does this video surprise anyone, really? well that 60 minutes is taking the present admin DOJ to task is a surprise to me...but aside from that...*shrugs*


I also thought that that gentleman who pointed out the SEC having no teeth as to no ability to send anyone to jail was the agency who prosecuted Mozillo was telling, who here thinks that happened by accident, that the DOJ itself who could have slam dunked him was purposefully withheld from bringing the case?

 

[Truthmatters]

I am confused here. Countrywide/Angelo Mozilo was held accountable.

Countrywide CEO Mozilo settles with SEC for $67.5M - CSMonitor.com
Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission.
~~~~~~~~
Twelve minutes into the video the DOJ defends itself for not prosecuting.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission. But employment agreements that protect the men from lawsuits involving the failed lender mean Bank of America Corp., which bought Countrywide in July 2008, will pick up most of the tab.



Yeap they gamed the system.

This is why coprorations should not have people rights.

They are there to protect the CEOs so they cant act illegally and not take the heat.

 

[CrusaderFrank]

I am confused here. Countrywide/Angelo Mozilo was held accountable.

Countrywide CEO Mozilo settles with SEC for $67.5M - CSMonitor.com
Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission.
~~~~~~~~
Twelve minutes into the video the DOJ defends itself for not prosecuting.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission. But employment agreements that protect the men from lawsuits involving the failed lender mean Bank of America Corp., which bought Countrywide in July 2008, will pick up most of the tab.



Yeap they gamed the system.

This is why coprorations should not have people rights.

They are there to protect the CEOs so they cant act illegally and not take the heat.

You should look at the relationship that Jim Johnson at Fannie cultivated with Countrywide

 

[iamwhatiseem]

I said it back in 2009, among others - there will never be any major prosecutions in the mortgage crises - not one. And there hasn't been and there will never be any.

Why?

Because someday, perhaps as long as 10 years from now - there will be investigations that will rock the entire American political and financial system. There will be books written, movies, documentaries etc. etc.
It will show a massive corrupt system between lawmakers and the mortgage industry that would have made Al Capone's hair stand on end.

The Justice Dept is doing nothing because they can't. To do so would be to invite catastrophic embarrassment and lack of trust of the American system worldwide. I would not at all be surprised if as many as 50 top lawmakers were both complicit and well involved in illegal loans, ignoring federal loan practices and hiding them.
How the f*ck else does literally 100,000's of people who in a million years couldn't get loans - GET THE LOANS.
There was a plan - create a false market to build up the financial system into what we saw throughout the 80's-2000's. Use a quasi-government agency (Fannie and Freddie) to back up the loans - and use tax payer dollars to reimburse the losses.

That is exactly what happened - and is happening again with STUDENT LOANS.

 

[Trajan]

I said it back in 2009, among others - there will never be any major prosecutions in the mortgage crises - not one. And there hasn't been and there will never be any.

Why?

Because someday, perhaps as long as 10 years from now - there will be investigations that will rock the entire American political and financial system. There will be books written, movies, documentaries etc. etc.
It will show a massive corrupt system between lawmakers and the mortgage industry that would have made Al Capone's hair stand on end.

The Justice Dept is doing nothing because they can't. To do so would be to invite catastrophic embarrassment and lack of trust of the American system worldwide. I would not at all be surprised if as many as 50 top lawmakers were both complicit and well involved in illegal loans, ignoring federal loan practices and hiding them.
How the f*ck else does literally 100,000's of people who in a million years couldn't get loans - GET THE LOANS.
There was a plan - create a false market to build up the financial system into what we saw throughout the 80's-2000's. Use a quasi-government agency (Fannie and Freddie) to back up the loans - and use tax payer dollars to reimburse the losses.

That is exactly what happened - and is happening again with STUDENT LOANS.

agreed student loans are next and it will be a "in" record time bubble in terms of how long the gov. will have had pretty much full control over the process, sally mae etc. .

and the answer will be- dems= forgive them, reps make them pay.

so this wasn't the dem plan all along? Put people on the tit then if the tit is going away or drys up blame someone and borrow to cover it so as to buy their votes...*shrugs*

see heres the deal- the media knows deep down in its collective heart that the Dems really have the most to answer for, far and away and there really is no way to obfuscate that, even for the gullible american public.

IF not they would have Watergated this thing to hell and back already.

 

[iamwhatiseem]

I said it back in 2009, among others - there will never be any major prosecutions in the mortgage crises - not one. And there hasn't been and there will never be any.

Why?

Because someday, perhaps as long as 10 years from now - there will be investigations that will rock the entire American political and financial system. There will be books written, movies, documentaries etc. etc.
It will show a massive corrupt system between lawmakers and the mortgage industry that would have made Al Capone's hair stand on end.

The Justice Dept is doing nothing because they can't. To do so would be to invite catastrophic embarrassment and lack of trust of the American system worldwide. I would not at all be surprised if as many as 50 top lawmakers were both complicit and well involved in illegal loans, ignoring federal loan practices and hiding them.
How the f*ck else does literally 100,000's of people who in a million years couldn't get loans - GET THE LOANS.
There was a plan - create a false market to build up the financial system into what we saw throughout the 80's-2000's. Use a quasi-government agency (Fannie and Freddie) to back up the loans - and use tax payer dollars to reimburse the losses.

That is exactly what happened - and is happening again with STUDENT LOANS.

agreed student loans are next and it will be a "in" record time bubble in terms of how long the gov. will have had pretty much full control over the process, sally mae etc. .

and the answer will be- dems= forgive them, reps make them pay.

so this wasn't the dem plan all along? Put people on the tit then if the tit is going away or drys up blame someone and borrow to cover it so as to buy their votes...*shrugs*

see heres the deal- the media knows deep down in its collective heart that the Dems really have the most to answer for, far and away and there really is no way to obfuscate that, even for the gullible american public.

IF not they would have Watergated this thing to hell and back already.

Absolutely.
To think this is the first media investigation in FOUR YEARS????????????
If this was Bush's 2nd term - every damn media outlet in the world would be screaming for blood...hell this is what I said about the OWS...WTF are they doing hanging around financial centers?? They should be camping out on Pennsylvania avenue where this all began.
Where is that article when you need it - the one back around 2009 that showed how many members of congress received damn near interest-free loans from Country-Wide. The number of former Goldman Sachs executives in UNELECTED office holders at the Federal level - how many former Bear Stearns/AIG executives are now top and very successful lobbyist. The entire system is in the gutter and this is only the FIRST media investigation????????????

Bullshit.

 

[The Infidel]

Absolutely.
To think this is the first media investigation in FOUR YEARS????????????
If this was Bush's 2nd term - every damn media outlet in the world would be screaming for blood...hell this is what I said about the OWS...WTF are they doing hanging around financial centers?? They should be camping out on Pennsylvania avenue where this all began.
Where is that article when you need it - the one back around 2009 that showed how many members of congress received damn near interest-free loans from Country-Wide. The number of former Goldman Sachs executives in UNELECTED office holders at the Federal level - how many former Bear Stearns/AIG executives are now top and very successful lobbyist. The entire system is in the gutter and this is only the FIRST media investigation????????????

Bullshit.

If only we had real journalists out there.

This regime is neck deep in scandals, yet they will do whatever possible to help get hm another 4 yrs

 

[MeBelle]

I am confused here. Countrywide/Angelo Mozilo was held accountable.

Countrywide CEO Mozilo settles with SEC for $67.5M - CSMonitor.com
Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission.
~~~~~~~~
Twelve minutes into the video the DOJ defends itself for not prosecuting.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission. But employment agreements that protect the men from lawsuits involving the failed lender mean Bank of America Corp., which bought Countrywide in July 2008, will pick up most of the tab.



Yeap they gamed the system.

This is why coprorations should not have people rights.

They are there to protect the CEOs so they cant act illegally and not take the heat.

You should look at the relationship that Jim Johnson at Fannie cultivated with Countrywide

"An Office of Federal Housing Enterprise Oversight (OFHEO) report from September 2004 found that, during Johnson's tenure as CEO, Fannie Mae had improperly deferred $200 million in expenses. This enabled top executives, including Johnson and his successor, Franklin Raines, to receive substantial bonuses in 1998. A 2006 OFHEO report found that Fannie Mae had substantially under-reported Johnson's compensation. Originally reported as $6–7 million, Johnson actually received approximately $21 million.

'Johnson was a bundler for the Obama campaign, raising between $200,000 and $500,000'

I am STUNNED I tell ya!

 

[iamwhatiseem]

Absolutely.
To think this is the first media investigation in FOUR YEARS????????????
If this was Bush's 2nd term - every damn media outlet in the world would be screaming for blood...hell this is what I said about the OWS...WTF are they doing hanging around financial centers?? They should be camping out on Pennsylvania avenue where this all began.
Where is that article when you need it - the one back around 2009 that showed how many members of congress received damn near interest-free loans from Country-Wide. The number of former Goldman Sachs executives in UNELECTED office holders at the Federal level - how many former Bear Stearns/AIG executives are now top and very successful lobbyist. The entire system is in the gutter and this is only the FIRST media investigation????????????

Bullshit.

If only we had real journalists out there.

This regime is neck deep in scandals, yet they will do whatever possible to help get hm another 4 yrs

This is the 2nd "not-so-positive-for-Obama" investigation/reporting from 60 minutes in the past couple months. Let's hope the show still has a little of it's former integrity and tough journalism they were known for.

But I agree - it is inarguable that the MSM has been gloriously obtuse concerning this administration. As I said a few years back - imagine the outcry if it was Bush that placed Jeffery Imelt as the top "Jobs Czar"...the same CEO that has moved more jobs to Mexico and China than anyother company in America - and Obama chooses HIM as the guy to advise him on CREATING jobs in America????
Not one blip on the media radar except Fox.

 

[KissMy]

"An Office of Federal Housing Enterprise Oversight (OFHEO) report from September 2004 found that, during Johnson's tenure as CEO, Fannie Mae had improperly deferred $200 million in expenses. This enabled top executives, including Johnson and his successor, Franklin Raines, to receive substantial bonuses in 1998. A 2006 OFHEO report found that Fannie Mae had substantially under-reported Johnson's compensation. Originally reported as $6–7 million, Johnson actually received approximately $21 million.

'Johnson was a bundler for the Obama campaign, raising between $200,000 and $500,000'

I am STUNNED I tell ya!

Barney Frank took care of those pesky Federal Housing Enterprise Oversight (OFHEO) regulators who were getting in the way of their lucrative crime spree. Bwarney Fwanks personally cut the GSE's regulator OFHEO's budget for trying to regulate Fannie & Freddie.