6.03.2007

Countrywide is still pimpin' and the orange midget is still dumpin'

Months after the financial media exposed the idiocy of pay-option ARMs, and even after Countrywide started experiencing shockingly high early delinquencies on them, Countrywide is still pimping the pay-option ARMs:


San Francisco Civic Center Countrywide office, May 31, 2007


... and the orange midget, Angelo Mozilo, is still dumping.
The chairman and chief executive of Countrywide Financial Corp. exercised options for and then sold 46,000 shares of common stock, under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.

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