I don’t even want to think about it. Countrywide CEO Angelo Mozillo got a $110 million severance package after running them into the ground. . . in addition to $140 million he got from cashing in stock options late in 2006 and in 2007.

Hopefully by now the insanity’s over as everybody tries to dig out. There certainly seem to be some exceptional bargains out there in REOs and short sales. We’ve gotten every short sale we’ve put together approved so far.

Be interesting to see what kind of salary the big guys get this year….. Versus how many employees get laid off.

Thanks for your comment.

Actually, in the original April Fools’ post the “team” my mythical “key administration figure” was referring to was intended to be our elected leaders in D.C. The concept I was hoping for was a bipartisan effort in both the Congress and the Administration to work together to come up with positive steps to lessen the impact of the mortgage failure.

You do make an interesting point about the teams being the lenders and the borrowers, but I would have to disagree with you as to which team has the money. Right now, both lenders and borrowers are “upside down” in an awful lot of cases, for a variety of reasons (see “How we got into this mess” for the sad details).

Hopefully the housing bill will contribute to both teams eventually getting back to a sound financial position.