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SEC staff said to seek fraud case against Angelo Mozilo

 
paladin
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User ID: 678597
United States
05/13/2009 09:21 PM
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SEC staff said to seek fraud case against Angelo Mozilo
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]



lmao
Anonymous Coward
User ID: 678266
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05/13/2009 09:28 PM
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Re: SEC staff said to seek fraud case against Angelo Mozilo
bump
Andromeda
User ID: 658410
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05/13/2009 09:39 PM
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Re: SEC staff said to seek fraud case against Angelo Mozilo
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.
Anonymous Coward
User ID: 516046
United States
05/14/2009 07:07 PM
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Re: SEC staff said to seek fraud case against Angelo Mozilo
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.
 Quoting: Andromeda 658410

Congress is a joke.





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