Thursday, July 17, 2008

Angelo Mozilo Has Retired From Countrywide

In case you missed it, Angelo Mozilo retired from Countrywide Financial on Tuesday July 1, as Bank of America took over the firm.

There does not appear to be a press release announcing his retirement. There are simply scattered reports of his retirement, including at the Los Angeles Times and the Wall Street Journal.

Emails sent to his former Countrywide email address are returned by autoresponse stating:

Angelo R. Mozilo has retired effective July 2, 2008. He is no
longer receiving e-mail at this address.
Mozilo's controversial reign ended with him facing a barrage of lawsuits from investors, borrowers and state regulators as he stepped up sales of his own Countrywide stock in late 2006 and unloaded more than $130 million of stock in the first half of 2007, while the stock was collapsing and he was reassuring shareholders.

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