Mr. ANGELO MOZILO (CEO, Countrywide Financial): Mr. Chairman, I was with the company 40 years.
"We expect difficult housing and mortgage market conditions to persist, " chief executive Angelo Mozilo said.
Last year, to settle similar securities fraud charge, Angelo Mozilo, the CEO of Countrywide Financial Corp.
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The argument about relying on public statements made by defendants refers in part to Countrywide co-founder Angelo Mozilo.
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Instead of helping the poor, Mr. Frank was enriching Jim Johnson, Frank Raines, Angelo Mozilo and Wall Street.
Just five months later, Countrywide and its crafty and tan leader, Angelo Mozilo, were on the ropes again.
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Most would agree paying Angelo Mozilo hundreds of millions as he was leading Countrywide to results created by easy credit and lax standards is wrong.
The ghost of Angelo Mozilo and Countrywide will continue to spook major financials going forward as the housing crisis still weighs on their balance sheets.
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The extensive coverage of Angelo Mozilo and Countrywide is especially poignant since his future still hung in the balance at the time the book went to press.
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However, unlike the cowboys employed during the housing boom by men like Angelo Mozilo of Countrywide Credit, Clayton lenders knew that their companies would be holding onto the loans they originated.
In July 1999, Fannie and Angelo Mozilo's Countrywide Home Loans entered "an alliance agreement" that included "a reduced documentation loan program called the 'internet loan, '" later called the "Fast and Easy" loan.
Angelo Mozilo, the co-founder of Countrywide Financial Corp.
Christopher Dodd of Connecticut and Kent Conrad of North Dakota, as well as a few other influential Washingtonians, were listed by Countrywide employees as FOAs, or "Friends of Angelo, " a reference to Angelo Mozilo, Countrywide's CEO.
Some names that come to mind for a good federal trial would be Angelo Mozilo of Countrywide Financial (now part of Bank of America), Frank Raines of Fannie Mae, and Hank Greenberg of AIG, to name a few.
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Countrywide Financial co-founder Angelo Mozilo, for many months a poster child of what went wrong in the financial crisis, now faces securities fraud and insider trading charges for his role in guiding the largest U.S. mortgage lender to ruin.
On Friday, the House of Representatives' watchdog committee corralled former Citigroup CEO Charles Prince, former Merrill Lynch CEO Stanley O'Neal and Countrywide Financial CEO Angelo Mozilo to find out whether executives should be compensated handsomely when their companies fare poorly.
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