Countrywide's exec hogging the funds

Countrywide's chief executive Angelo Mozilo is now taking decisive actions to ensure the company's future success.

One action is the termination of 12,000 employees--with an average family around four--a real total of close to 48,000 people. Their financial lives--ironically, many of their mortgages--are now at risk.

In 2006, per the L.A. Times, Mozilo was paid $43 million in total compensation. Between 2002 and 2006 he received $387 million in total compensations, presumably for decisions well made and well executed.

The subprime meltdown did not just happen over the past few months. The wave was out to sea, but they knew it would be hitting land at some point.

Now the same group that sailed all these 12,000 people, the growing foreclosure community and the tangential economy into the rocks is taking decisive actions to ensure the future. Who's future? Worry not; Countrywide's leadership now borrows billions to cover their errors while paying one individual $387 million during the same period. Mozilo has already cashed millions of dollars of stock options in 2007.

Heh, it's only business. Only the little people need concern themselves with integrity. Mike Duck Agoura Hills