angelo mozilo

Investment research firm Morningstar is steadfast in its view that the chairman who oversees a CEO shouldn't also be the CEO: Separation of the roles is a key point on its corporate governance checklist ... except when it comes to its own founder, Joe Mansueto.

Nope, Angelo Mozilo won't be serving time, no matter what the evidence shows. In fact, he won't even face a trial. Wondering how the most convictable CEO among the titans who brought down the financial system is getting off so easy? The answer lies in the revolving door between Wall Street and its "regulators."

Allstate is suing Bank of America and its Countrywide Financial division over Countrywide's sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets would drop in value because of a high percentage of defaults.

Countrywide Financial Corp. co-founder Angelo Mozilo, along with two others, has reached a settlement agreement with the Securities and Exchange Commission related to charges of insider trading and civil fraud.

California Attorney General Jerry Brown is suing eight current and former city executives from the town of Bell over ridiculously the absurdly inflated salaries they paid themselves, which they financed by overcharging Bell residents on taxes and fees.

Angelo Mozilo, former CEO of Countrywide Financial, must face trial on charges he misled investors about the risks associated with subprime lending, a judge in Los Angeles ruled. U.S. District Judge John F. Walter denied requests from Mozilo and two other former Countrywide executives for a ruling that there were no genuine issues to be tried, Bloomberg News said.

The financial crisis was produced by a complex set of circumstances, including a massive housing bubble, poor regulation and irresponsible lending on an epic scale. A handful of bankers became the public faces of the crisis, and now, two years later, we take a look at what became of them.

Although Countrywide's seemingly-impressive numbers massively enriched its executives in 2005 and 2006, the mortgage lender's notoriously lax standards are often cited as a contributor to the housing boom. Stanford L. Kurland, who was the President and Chief Operating Officer at Countrywide until...

Yesterday afternoon I was on my way to a studio to appear on CNBC's Closing Bell when I got a call from the producer telling me that at 4 pm the SEC would announce an indictment of former Countrywide CEO Angelo Mozilo on an insider trading rap. While I am not sure the SEC has a solid case, I...

Former Countrywide Financial CEO Angelo Mozilo has become the highest-profile executive to be accused of wrongdoing in the subprime mortgage meltdown. The Securities and Exchange Commission charged him with allegedly lying to investors and reaping $140 million in profits from illegal insider...