May 14, 2009

COULD BE EMBARRASSING FOR HIS “FRIENDS:” Report: SEC may charge Angelo Mozilo with fraud.

The staff of the Securities and Exchange Commission has decided to recommend that the agency bring civil fraud charges against Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., according to a published report Wednesday.

Those “friends” from the Countrywide sweetheart loan scandal include Sen. Chris Dodd (D-CT), Kent Conrad (D-ND), Richard Holbrooke, and Donna Shalala, among others.

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