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bkilat bkilat
 
June 05, 2009 12:22 AM

Who is Angelo Mozilo? And why is the US suing him?

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ninakat ninakat
 
 June 05, 2009 12:29 AM
He's cofounder of Countrywide Financial, and he is being sued because he allegedly neglected to inform shareholders of the deterioration of lending standards.
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LA Times



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frednikgoh... frednikgoh...
 
June 08, 2009 01:41 AM
He founded Countrywide which was at some point the largest home mortgage lender in the US. Even though less than 10% of the total loans were "sub prime" (ie Risky) the government feels that his company's behavior (based on his direct leadership) was subject to certain illegal activities.

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