Paul Meisel

Countrywide: The Lender Who Helped People Save Their Homes

"Even though I think CEO Mozillo sold shares based on the upcoming credit issue, and will be found guilty of doing so, "....

Todd, if you are going to lead with this, you should put in some of your rationale for the opinion.

The fact that Mozilo has been selling a lot of stock for a long time, and that it increased about a year ago, is not news to those following the stock. (Disclosure, I own none and have not.) A lot of executives sell a lot of stock to diversify, to send grandkids to college, to buy vacation homes and retirement hobby businesses...

I just think that if you are going to express an opinion like this you should follow up with your rationale so there is no wondering what information or insight your opinion is based on.

Although experience has taught me not to underestimate greed, in Mozilo's situation, to do anything overtly illegal would be colossally stupid -- given the visibility of his stock and his previous selling he would have to know that any change in his plans would be subject to scrutiny. Maybe I just wear rose colored glasses but I just see a rich guy who has too much of his money in one basket and is trying to move it in an orderly fashion......