After Mozilo sold Countrywide, the most trash-filled piece of financial garbage to some rich fools who soon became parted with their money, many in the bubble blogosphere assumed that at the very least, some criminal activity had taken place by CEO Angelo Mozilo who had reaped more than $300 Million (yes, you read that correctly) in sale of his stock.
Imagine all of our surprise when not only did nothing happen, but we heard nothing of the matter whatsoever. What ever happened to financial fraud?
Well, at least the SEC had enough presence of mind to fine the crap out of him and get a settlement check. Hurry, quick, I would cash it right away, but don’t spend it all in one place, you might need to hire some people to investigate all of the other financial frauds you’re responsible for finding. (Madoff, Stanford, etc)
Either way, I’m glad to see SOMETHING happen. Couldn’t happen to a nicer guy, too.