Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on Twitter • Be a Facebook Fan • Tumble us!

15 Feb 2012 21:56

tags

Politics: Ex-Countrywide head Angelo Mozilo summoned by Rep. Darrell Issa

  • F.O.A. The above stands for “Friend of Angelo,” the internal designation formerly used by Countrywide Financial to specify people who, some of them public figures, were to be given deluxe mortgage rates, so named for then-Countrywide top-dog Angelo Mozilo.
  • Rep. Issa The head of House Oversight, Rep. Darrell Issa has requested an interview with Mozilo, on such loans given to public officials (current Reps. McKeon, Session, Towns, and Gallegly) — Congress isn’t allowed to accept publicly unavailable financial perks. source
Posted by Chris Tognotti • 0 Comments • Permalink

15 Oct 2010 20:46

tags

Biz: Countrywide’s former CEO nailed with massive fine by SEC

  • You know Countrywide? Of course you do, if you have any knowledge of big evil companies that screwed millions of good people by convincing them to get into subprime mortgages. Before the proverbial doo-doo hit the fan, the company’s former CEO, Angelo Mozilo, cashed out big time, using his insider knowledge to ensure a big payday. Now, a couple years after the fact, the SEC twisted his arm until he agreed to forfeit a bunch of that money. The details:
  • $140 million in stock sold, based on insider information
  • $22.5
    million     the size of the fine Mozilo will have to pay to settle securities fraud charges
  • $45 million the amount Mozilo will have to give back due to the charges source
Posted by Ernie Smith • 0 Comments • Permalink

05 Jun 2009 02:15

tags

Biz: Why former Countrywide CEO Angelo Mozilo is a bad, bad man

  • $387 million Amount Angelo Mozilo made as Countrywide CEO between 2002 and 2006. He co-founded the company in 1969 and was seen as a rags-to-riches story.
  • $139 million Amount Mozilo made in profits as the mortgage giant started crumbling under the weight of its own bad deals. Charges were brought against Mozillo yesterday. source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
top tags