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Executives Behind Financial Crisis Face Little Risk Of Being Caught

First Posted: 02/26/11 03:11 PM ET Updated: 05/25/11 07:35 PM ET

Angelo Mozilo

The New York Times:

So much for Angelo Mozilo taking the fall for the financial crisis.

Late last week, word leaked out that Mr. Mozilo, who had co-founded Countrywide Financial in 1969 -- and, for nearly 40 years, presided over its astonishing rise and its equally astonishing fall -- would not be prosecuted by the Justice Department. Not for insider trading. Not for failing to disclose to investors his private worries about subprime loans. Not for helping to create a culture at Countrywide in which mortgage originators were rewarded for pushing fraudulent loans on borrowers.

Read the whole story: The New York Times

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Filed by Hunter Stuart  |