Nothing like a combination of reckless lending standards, aggressive stupidity and irresponsible behavior being rewarded.
For pushing no doc, no money down loans, emphasizing the sub-prime market, oh, and dumping $414 million of Countrywide shares before the stock tanked 85%, Countrywide Financial CEO Angelo Mozilo stands to get a severance package valued at
more than $110 million, according to this LA
Forget SEC investigations and shareholder lawsuits — where are the townspeople with pitchforks and torches?
graphic via The Mess That Greenspan Made
Mozilo severance: $110 million and change
L.A.Land, January 10, 2008
Mozilo’s Monster Payday
January 11, 2008, 11:08 am
Inside the Countrywide Lending Spree
NYT, August 26, 2007