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02:20 PM
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SEC staff said to seek fraud case against Angelo Mozilo
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[quote:Anonymous Coward 516046:MV83OTM3MDhfMTIyMTIxMDVfMTI5RkVGNTA=] [quote:Andromeda 658410] I know I'm supposed to feel great about this. But this action on behalf of tv "defrauded" shareholders falls a little flat when we're dishing out so much money to bail out these entities - when basically means their shareholders - when the real victims who are people stuck with overpriced mortgages are losing their homes or are trapped with losses. And congress or executive branch still won't act. [/quote] Congress is a joke. [/quote]
Original Message
Countrywide Financial Corp. founder Angelo Mozilo may be facing federal civil fraud charges, the Wall Street Journal is reporting this afternoon.
From the Journal:
Staff at the Securities and Exchange Commission have decided to recommend filing civil fraud charges against Mozilo, according to people familiar with the investigation.
[
link to latimesblogs.latimes.com
]
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