Former Countrywide CEO to stand trial in Broward
OPS_admin | May 05, 2009 | Comments 0
Former Countrywide CEO to stand trial in Broward
Angelo R. Mozilo, the former chairman and CEO of disgraced lender Countrywide Financial Corp., will have to stand trial in Broward County Circuit Court on charges of deceptive trade practices.
U.S. District Court Judge Dana Sabraw granted Florida Attorney General Bill McCollum’s request that the case be sent back to state court.
Mozilo’s attorneys had argued the issues in the case were federal and not state.
“Angelo Mozilo should absolutely face a Florida court and Florida’s citizens for his business practices, especially those which victimized Florida homeowners,” McCollum said in a news release.
The original lawsuit, filed last June, alleged that the company signed up clients with mortgages they could not afford or provided loans with rates that were misleading.
In October, Bank of America Corp. agreed to provide $8.4 billion to modify the troubled mortgages it acquired as part of its purchase of Countrywide last July.
via Former Countrywide CEO to stand trial in Broward – South Florida Business Journal:.
Filed Under: Crime, Legal Issues
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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" We the corporations" On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. __________
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
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