Video trailer of "Inside Job", Academy Award winner for Best Documentary

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Title Insurance with Hallmark Abstract Service LLC

Academy Award winning documentary on Wall Street, greed and lack of any prosecutions of the key players

From the New York Times

“Inside Job,” a searing piece of muckraking on the causes of the financial crisis, took home the Oscar for Best Documentary.

Charles Ferguson, the film’s outspoken director, stayed in character when he bounded up on the stage and opened up his remarks by lambasting the Wall Street crowd.

“Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that’s wrong,” Mr. Ferguson said, as the Hollywood crowd erupted in applause.

DealBook colleague Joe Nocera, who has previously written about “Inside Job,” addressed this issue in his column
this past weekend.

Examining why the government wasn’t bringing criminal charges against Angelo Mozilo, the chief executive of mortgage lender Countrywide Financial, Mr. Nocera observed that through the crisis and up until today, Mr. Mozilo praised subprime loans as a way to help lower-income individuals buy into the American dream. For every email in which Mr. Mozilo acknowledged the dangers of subprime lending, there was other evidence that he thought Countrywide’s mortgage business was strong. Mr. Nocera points to recently released government testimony in which Mr. Mozilo calls Countrywide “was one of the greatest companies in the world.”

“Mr. Mozilo would have been difficult to prosecute,” Mr. Nocera concludes. “Delusion is an iron-clad defense.”

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Michael Haltman, Partner
Hallmark Abstract Service LLC
131 Jericho Turnpike, Suite 205
Jericho, New York 11753
516.741.4723 (P)
516.741.6838 (F)
mhaltman@hallmarkabstractllc.com
 
 


 

Comments (2)

Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

I was SO PROUD of Mr. Ferguson for saying that!!!! And I loved his "jeans" line, too. I also love the delusion line Re:Mozilo.

Countrywide, a Great Company?  Oh, PEELEEEAAAASSSEEEE.

Feb 28, 2011 03:48 AM
Michael Haltman
Hallmark Abstract Service LLC - Jericho, NY
At HAS The Title Is Always Cleared!

It a dirty business. I was a correspondent commercial mortgage lender on a Friday and the bank went under over that weekend. This was after they had paid to be the cover sponsor for a magazine.

Go figure.

Feb 28, 2011 03:54 AM

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