Thursday, September 13, 2007

Countrywide CEO on why he's sold $gazillions in stock




Angelo Mozilo, chief executive of Countrywide, has been selling massive amounts of his company's stock while the housing bubble deflates. Why? He says: "The reason I'm selling is that it is the majority of my net worth, and I have a big family, nine grandchildren, five children, I have a lot of education to pay for, but--so I have a lot of obligations, but I am sort of at the end of my career, not at the beginning of my career." Poor baby

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