Son Of A B....! Feds let Mozilo escape justice, too.

[n2doc]

Feds End Criminal Inquiry on Mozilo

By JOHN R. EMSHWILLER

LOS ANGELES—Federal prosecutors have decided to close their criminal investigation into former Countrywide Financial Corp. chief executive Angelo Mozilo without filing charges, according to people familiar with the matter.

The move had been expected for some time by observers of the case. The Securities and Exchange Commission had filed civil fraud charges against Mr. Mozilo and two other former top Countrywide executives.

Last year, Mr. Mozilo and his former colleagues settled that SEC suit without admitting or denying any wrongdoing. Mr. Mozilo agreed to make a multimillion-dollar payment as part of the settlement.

At that time, people familiar with the matter said the federal criminal investigation, while still open, was relatively dormant and not expected to produce any criminal charges.

http://online.wsj.com/article/SB10001424052748703959604576153171833184878.html
They all are going to get away with it. Even the worst of them.

[Rage for Order]

1. Yeah, but he had to pay a $67 million fine

After he made over $385 million. Give the guy a break, he's paid his debt to society

:sarcasm:

[gateley]

2. This disgusts me. nt

[kenny blankenship]

3. Don't you think he's knows stuff some very important people would rather not have in the news?

http://online.wsj.com/article/SB10001424052702304510704575562311735698220.html?KEYWORDS=angelo%27s+ashes

A year ago the House Committee on Oversight and Government Reform agreed to subpoena documents on the “Friends of Angelo” program from current Countrywide owner Bank of America. For any files that related to Members of the House or their spouses, the subpoena instructed the bank to send the documents directly to the House ethics committee. The ethicists have since said nothing about the issue.

Way back in March 2009, a report by Representative Darrell Issa (R., Calif.) identified several Congressional staff members as recipients of Countrywide VIP loans, along with officials in the executive branch. This past summer, Mr. Issa sent a letter to the Senate ethics committee that for some reason did not name names but reported, based on a review of Countrywide documents, that 30 Senators or Senate employees had received VIP loans. Several months later, still no names.

At a minimum, we wonder why the SEC didn’t insist that Mr. Mozilo cooperate in naming the politicians and others in government or at Fannie and Freddie who benefited from Countrywide’s mortgage largesse. Mr. Mozilo will still live well, and the political class emerges unscathed, while the rest of us live with the ashes of their government-supported lending.

Some of those 30 names are Kent Conrad and Christopher Dodd. A talkative Mozilo could in theory send them to jail for corruption. US Senators don't go to jail. It shatters the whole illusion. Therefore, Angelo Mozilo won't go to jail either.