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

3 Answers

$0.00 tip awarded

ninakat | 2 years, 12 months ago

He's cofounder of Countrywide Financial, and he is being sued because he allegedly neglected to inform shareholders of the deterioration of lending standards.

source(s):
LA Times

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

Report Abuse

frednikgohar | 2 years, 11 months ago

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.

Report Abuse

rajivren | 2 years, 11 months ago

http://www.mahalo.com/angelo-mozilo

http://deepbackground.msnbc.msn.com/archive/2008/10/30/1613877.aspx

source(s):
http://www.mahalo.com/angelo-mozilo

Report Abuse

Spam (off topic & commercial)
Inappropriate (profanity, hate speech, or other violations per Terms of Service)
Plagiarism (copy and paste text without proper citations)
Illegal (fraud, phishing, violence, threats, privacy invasion, harm to minors)

Details

add an image by: URL,
Search,
Upload

Selected images:

save images cancel

add a video by URL:

Selected videos:

save videos cancel

add an audio by URL:

Selected audio:

save audio cancel

About This Question

This question has already been resolved. You may add an answer to it but you will not be eligible to win best answer or any associated tips.

This question has been viewed 101 times.