It warms the cockles of the heart of this honest taxpayer to learn that Angelo Mozilo, former CEO of Countrywide Bank has become the target of a federal law suit launched by the SEC.
As reported by E. Scott Reckard and Jim Puzzanghera in the Los Angeles Times today.
Why stop at a civil action, why can’t Angelo suffer the same fate as Bernie Madoff? Angelo has extracted probably in excess of $500 million from the one time value of Countrywide for his own personal gain. Can we get a clawback going here? Or maybe have Angelo spend some time in a federal pen, and lose his tan. And then maybe some tar and feathers after parole?