Posted on 02/18/2011 9:00:05 PM PST by Libloather
U.S. drops criminal probe of former Countrywide chief Angelo Mozilo
By E. Scott Reckard, Los Angeles Times
February 18, 2011, 4:11 p.m.
Federal prosecutors have shelved a criminal investigation of Angelo R. Mozilo after determining that his actions in the mortgage meltdown — which led to $67.5-million settlement against him — did not amount to criminal wrongdoing.
As the former chairman of Countrywide Financial Corp., Mozilo helped fuel the boom in risky subprime loans that led to the crippling of the banking industry and the near-collapse of the financial system.
A federal grand jury in Los Angeles began probing Mozilo in 2008, and four months ago he agreed to pay a $22.5-million fine and to repay $45 million in what the government said were ill-gotten gains to former Countrywide shareholders. The payments settled a civil action by the Securities and Exchange Commission.
But the criminal investigation has wound down without indictments of Mozilo or others at his Calabasas company, according to people familiar with both the prosecution and the defense teams, all of whom spoke on condition of anonymity because they were not authorized to discuss the matter.
(Excerpt) Read more at latimes.com ...
Because they would have to indict and prosecute Christopher Dodd, too.
And a lot of other big politicians as well. To big a can of worms.
just another wetback
Getting too close to Chris Dodd, Tony Rezko, Obama ???
“There’s a better smoker here -
“QUIETLY, behind the scenes, the Clinton Administration is preparing for the biggest regulatory crackdown of recent years. Attorney General Janet Reno is linking up with banking regulators and with HUD Secretary Henry Cisneros to end the supposed epidemic of discrimination against minorities in making home loans. The implications for society at large are ominous.”
http://www.freerepublic.com/focus/f-news/1951642/posts
More information on the bastards. Cisneros is the son of a big-wig in Mexicao. They all literally cleaned us out. I dream about relaxing with a glass of wine and watching their faces as they get life!
They’re up to their necks and laughing all the way to the bank.
Thanks for posting it just as I’m getting ready for bed. :)
Let the robbing continue, you idiot serfs, pay up!!!!
Who cares if we don’t have standing to foreclose on you!!!
The Robbing of America stalks this land, with only a whimper, here and there, wimps!!!
/dwhs (dripping with heavy sarcasm)
How can I join the Protected Caste, like him? :)
Donate to Dems....
Too busy prosecuting conservatives to mess with mere criminals.
ya and he made his pay offs to the right people
Issa is on Angelo’s case. I hope he exposes the whole house of cards, Dodd, Fannie Mae’s Claude Reines, BLarney Frank and the whole bunch.
And last but certainly not least JAMIE GORELICK who also made the 911 attacks possible (c.f. the “wall” between the FBI and CIA during the Clinton administration). These people did more damage the country than our foreign enemies have ever done and even got rich in the process.
So, I guess that means he’s TOO BIG to prosecute.
**Because they would have to indict and prosecute Christopher Dodd, too.**
And all the rest of the Dems in DC and probably a dozen or so RINO’s too.
Disappear you moron bigot.
RIP, rule of law. We truly are in a new world.
Dodd must have satan's cell phone number.
Dream on.
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.