Today the SEC is accusing Countrywide CEO Angelo Mozilo of fraud.
The writing is on the wall in this LAT story. As the mortgage industry went into a nose dive in late 2006-2007, Mozilo cashed out about $140 million in stock options, becoming one of the highest-paid executives in the country"through aggressive divestment of his own company's stock!
Source:
http://articles.latimes.com/2007/nov/09/business/fi-countrywide9
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