Countrywide Financial CEO Angelo Mozilo said in an interview on CNBC there is still a tremendous liquidity problem and that he thinks the housing slump will lead us into a recession.

And whose fault is that, Angelo? Doesn’t the leading mortgage lender have some minor responsibility for leading the deterioration in lending standards that, in part, got us here? A fallen angel, I would say. Don’t recognize Mozilo. Now Lucifer I know, but that’s Greenspan of course because he thought he was God, and I know Samael and Azazel, but Mozilo? I guess the records are incomplete.

But anyway, I wouldn’t argue with the man. Tomorrow we get theoretical new home sales. Theoretical, because the government does not bother to account for cancellations which are running 35-45% of new sales as reported by the builders. Details, you know, besides, who likes bad news? The government certainly doesn’t.