Posted on 02/18/2011 8:59:36 PM PST by Kartographer
Federal prosecutors have ended a criminal investigation of Countrywide Financial Corp. co-founder Angelo Mozilo, a person close to the investigation said Friday.
The federal official told The Associated Press that the probe launched in 2008 into the actions of the former chief executive of the housing giant during the mortgage meltdown has been closed with no indictments. The person spoke on the condition of anonymity because the investigation was never publicly announced, and the Department of Justice as a policy does not announce the closing of investigations.
In October, Mozilo agreed to a $67.5 million settlement to avoid civil trial on fraud and insider trading charges brought by the Securities and Exchange Commission, but prosecutors pursuing the criminal case against him found that his actions did not amount to crimes.
(Excerpt) Read more at news.yahoo.com ...
Ping!
If you are guilty as sin, you have to pay a really big bribe...er, “fine”...to the federal shakedown artists in D.C.
Sadly I’m not surprised our financial system is full of corruption and many of our politicians have been paid off. One day people like him will face a different kind of perp walk.
“Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days” James 5:1-3
The headline should really state, “Mozilo Makes Record Payout To Obama Campaign”
I wonder if the timing of this is related to Issa issuing his first subpoena?
He profited billions and paid a few million in fines. No criminal charges. The big bankers are above the law. And since there is no real penalty and lot of money to be made then the same games are still going on. Anyone who has not done so should read the latest from Matt Taibbi. It deals with this issue. Yes he is a liberal, but he is one of the few that has been exposing the truth on the financial corruption.
http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216?page=1
He profited billions and paid a few million in fines. No criminal charges. The big bankers are above the law. And since there is no real penalty and lot of money to be made then the same games are still going on. Anyone who has not done so should read the latest from Matt Taibbi. It deals with this issue. Yes he is a liberal, but he is one of the few that has been exposing the truth on the financial corruption.
Why Isn’t Wall Street in Jail?
http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216?page=1
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.