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The hell they won't. What do you think their pension fund and 401K plan administrators do? Buy and sell. Tax invoked. Less funds available for retirement draw.
What makes you think they personally manage their pension funds or 401Ks? They don't. The fund/plan administrators do. And guess what those fund/plan administrators do... buy and sell.
Even if true, the federal government didn't use a heavy hand to go after him. Guess why... He could expose the imminent disaster the federal government mandated with their "affordable lending" programs.
I doubt the books were a mess of fake entries and lies. Mozilo was just going by the GSEs significantly lowered lending standards, and the books reflected such. There's no illegality when a company is just adhering to federal government mandates and severely lowered lending standards.
Mozilo pled to fraud. He did it because it was a slap on the wrist........no jail time like called for under Sarbanes/Oxley.
Did the government slap him on the wrist because they didn't want to get exposed also? Yes it is, but Mozilo should be in prison.
My friends From Denmark actually did not experience that issue.
My mom however did. She lived here in the US. Being poor rationed it pretty effectively for her.
Many Americans think rationing of healthcare goes something like this----a particular nation will only dole out a little care here and there and make one wait months for care etc. However, here is America's version of rationing, HMOs is one. Paying taxes for healthcare services one can never use for one reason or another---medicaid, medicare, VA, Indian Health. And until recently denial of care because of pre-existing condition was another way of rationing. With all those taxes on top of monthly premiums and then add a bit of absolutely no cost control, both on the medical and pharma, we pay the most and are rationed like no other first world country.
Many Americans think rationing of healthcare goes something like this----a particular nation will only dole out a little care here and there and make one wait months for care etc. However, here is America's version of rationing, HMOs is one. Paying taxes for healthcare services one can never use for one reason or another---medicaid, medicare, VA, Indian Health. And until recently denial of care because of pre-existing condition was another way of rationing. With all those taxes on top of monthly premiums and then add a bit of absolutely no cost control, both on the medical and pharma, we pay the most and are rationed like no other first world country.
You do a good job of noting a part of the problem but a big part is we do not hold our politicians accountable like other countries or we do not support those who do what must be done.
There is rationed health care in the countries with public health care.......the citizens understand that everything simply can't be provided to everyone. Our politicians promise everything to everyone and we throw them out unless they provide that.
The "death panel" debate is a very good example of this. Both sides lie to get votes. We will have to decide where treatment ends. The thing is, it already is that way.
Mozilo pled to fraud. He did it because it was a slap on the wrist........no jail time like called for under Sarbanes/Oxley.
Did the government slap him on the wrist because they didn't want to get exposed also? Yes it is, but Mozilo should be in prison.
What makes you think it wasn't a negotiated deal? If the federal government could have nailed him to the wall, why didn't they? There's much more to the story. Not sure why you want to ignore all the damage Mozilo could have caused the federal government if push came to shove. Thought you were smarter than that...
You do a good job of noting a part of the problem but a big part is we do not hold our politicians accountable like other countries or we do not support those who do what must be done.
That's because a much too large segment of the U.S. population has no other interest other than to vote themselves more freebies at someone else's expense.
That's EXACTLY why we need to implement the REGRESSIVE tax systems Scandinavian and European countries have. Voting oneself more freebies in Scandinavian and European countries comes at a direct and weighted cost to oneself in those countries.
It probably was, that doesn't dispute the fact that under Sarbanes/Oxley Mozilo should have been criminally charged.
Quote:
If the federal government could have nailed him to the wall, why didn't they? There's much more to the story. Not sure why you want to ignore all the damage Mozilo could have caused the federal government if push came to shove. Thought you were smarter than that...
I'm assuming you didn't actually read my reply. That's the only rational explanation I can come up with for you pointing out to me what I already said.
That's because a much too large segment of the U.S. population has no other interest other than to vote themselves more freebies at someone else's expense.
It probably was, that doesn't dispute the fact that under Sarbanes/Oxley Mozilo should have been criminally charged.
Maybe. Maybe not. Depends on what Countrywide's books stated. If they were aligned with federal government mandates, exactly what is illegal about that?
Sure I do. I don't vote myself freebies at someone else's expense.
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