Broader investigation of Lenders by the SEC

Discussion in 'Wall St. News' started by blast19, Mar 19, 2007.

  1. blast19


    Everyone accused me of being nuts when I went on and on about how the SEC has to be looking into the actions of CEOs like Mozilo...well, a broad investigation. Luckily for me a CEO dumping large amounts of stock on a nearly daily basis is bound to catch the eye of investigators:

    It will drag on...but if Option ARM lending practices start getting scrutinised this whole investigation will beome a wider slaughterhouse of lawsuits and criminal investigations including predatory practices.
  2. They sold it when it was going up too, what the point?
  3. blast19


    Uh...not in such fashion. Have you even looked?

    If you still don't see the pickup in sales to an almost daily practice up through this month then I can't do math for you...sorry! :confused:
  4. I see it but its all automatic sales, is it really a pick up? They sold it even more aggresively last Fall when it was rallying.
  5. see attached
  6. Actually, this is the right one, sorry.
    • cfc.pdf
      File size:
      13 KB
  7. blast19


    You're dancing around in a mostly $4 window there representing about 10% price fluctuations from $40-44. If you want to spread that a little wider okay.

    Mozilo sold

    517,000 shares in November of 2006.

    375,000 in December of 2006.

    465,000 in January

    580,000 in February of this year

    442,000 shares sold in the first two weeks of this month alone.

    According to your chart then, Mozilo was actually selling more shares in February and March while the stock has been on a decline.

    You could also make note of the fact that the company was buying back up to $1.5 billion in stock during the 4th Quarter and only $1 billion in the 1st Quarter of this year.

    I'm not sure I get your point...automatic plans aren't necessarily outside the realm of insider trading.

    It looks fishy no matter how you dice it to me and I think the SEC will find interest in his sales pattern as well.

    Time will tell....but I have insight into this I think and I am quite positive more than just one or two class action suits will be filed before the month is up.
  8. No doubt about that. They will all be dragged out in front of Congress, like baseball players and Enron executives.
  9. blast19


    Haha...instead of steroids or compensation packages perhaps Mozilo will be lucky if they grill him about his bad taste in tanning lotions. :D