He will have a heart-attack before serving his time in jail. I don't think he did anything illegal; maybe immoral.
fresh meat, and tender too.... better make that a country club prison.... simple fact that he incentivized all his sales staff to essentially violate all the HUD disclosure procedures and practices and steer (with negative racial connotations, including us white peoples too into these subprimes) loans into higher interest, higher fee loans.... you mean he didn't know, what credulity oh, and don't forget his linkage to the Bush Administration, where they evidently knew they would not be prosecuted or individual complaints by lawyers or borrowers to the HUD Administration would go unprosecuted. They gutted the enforcement arms of just about all federal agencies, just to finance these tax breaks to the wealthy, and the marketplace knew it! They knew there would be no one guarding the hen house. The US Consumer have NOT had the protections of the existing laws, let alone anyone to answer the phone on the complaint lines or enforcers for the existing laws..
You know what, this thread is like saying "Should sewer slime go to the sewage treatment plant?" Politics says that the sewer slime will be paraded around in a dog and pony show in order to appease the serfs so some other slime can pat themselves on the back for a job well done.
his plea bargain will have a provision for his bunk to be replaced by a tanning bed, he'll just sleep in there at night.
You guys sound like a crowd of witchhunters in Salem Mass. The only thing this guy did wrong was not retire a year ago.
They want a scapegoat, and just look at this guy. Fancy suits, tan, and he just unloaded millions of stock shares in a company he founded 40 years ago. The ultimate insider. Got out when the gett'n was good. Somebody is going to pay for the mortgage mess, and he is that somebody. They are going to make an example of somebody in a very public way. Sorry, Angelo. Better cut your deal now.
If he knew it was a house of cards, a ball of wax in the hot sun, and all the time talked his book, then he's a con man.