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POPSCountrywide Financial Prompts Scrutiny Of Federal Investigators
Mozilo insisted that there "was absolutely no relationship between the buyback of stock and my sale of options." Mozilo's remarks were made at a congressional hearing on the lofty compensation levels enjoyed by certain chief executives even as their companies were hammered by losses in the sub-prime mortgage market. He was joined at the witness table by Stanley O'Neal, former head of Merrill Lynch & Co., and Charles Prince, former head of Citigroup Inc., along with members of their boards. O'Neal and Prince were pushed out after their firms suffered billions of dollars in losses tied to ill-fated mortgage securities. Mozilo remains at the helm of Countywide, the company he founded, although he is expected to leave after Bank of America's acquisition of the Calabasas-based lender. "This is a mess," said Rep. Elijah E. Cummings (D-Md.), referring to executives "with golden parachutes drifting off into the golf field" at the same time that people "are losing their homes."
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POPSHELOC tightening An article relating to the HELOC tightening Mr. Bruce Norris mentioned at the seminar last week.
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POPSActivists Ask ACLU to Help End Sleeping Ban
The Sleeping Ban makes it illegal to sit, lie or sleep on ANY public property at night between the hours of 11:00pm to 8:00am. This applies to people in vehicles as well. You cannot even sleep on private property with permission in view , or out of view for more then three days. These are vets, kids, families, and human beings. We ask for the right not to sleep anywhere and everywhere, but somewhere. Safe Sleeping Zones for people sleeping in their cars with a code of conduct is cheaper to police and provides a safer environment. The Same can be used for people with no where to sleep. Again with strict rules about trash etc. Santa Cruz has been out of its affordable housing element for decades. People in wheel chairs cannot get into the armory, if there was a bed even available for them, We have 2000 homeless and only 160 beds on any given night. So the homeless are to stay awake all night and sleep in the day. We are loosing our humanity. 25% are vets.
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