Wednesday, May 13, 2009

Report: SEC staff seeks fraud case against Angelo Mozilo

The L.A. Times reports:
Countrywide Financial Corp. founder Angelo Mozilo may be facing federal civil fraud charges, the Wall Street Journal is reporting this afternoon.
No word yet from Nancy Pelosi's son on this one.Gawker explains:
his job at Countrywide, for example, where he worked as a loan officer — at one of the mortgage companies most scrutinized for its role in the housing bubble and ensuing collapse of Wall Street.
Imagine that.