Latest Angelo Mozilo Stories

2009-06-04 18:38:54

Countrywide Financial Corp. co-founder Angelo R. Mozilo and two former top executives were accused of fraud Wednesday by U.S. regulators. The Security and Exchange Commission filed a civil lawsuit in federal court alleging Mozilo, former president David Sambol and former chief financial officer Eric Sieracki failed to warn shareholders of the extent of risk the Calabasis, Calif., company was taking on during the housing boom, the Los Angeles Times reported. Mozilo, who was chief executive...

2009-01-14 09:37:00

LAS VEGAS, Jan. 14 /PRNewswire/ -- International Institute of Management (IIM), today announced that its President, Med Yones, was recognized by World Finance Magazine as "One of the few who predicted the current US economic crisis before it happened. IIM challenged the US President's State of the Union Address in January 2007, the Federal Reserve Chairman and the popular opinion of US economists and media analysts at the time. IIM published a policy white paper outlining US economic...

2008-08-07 03:00:12

By Eric Gershon, The Hartford Courant, Conn. Aug. 7--Connecticut became the fourth state to sue Countrywide Financial Corp. on Wednesday, alleging that the giant mortgage lender broke state banking and consumer laws by making loans home buyers couldn't afford and by other "oppressive, unethical, immoral and unscrupulous" practices. Attorney General Richard Blumenthal filed the suit in Superior Court in Hartford, following similar legal actions by California, Illinois and Florida....

2008-07-13 03:00:11

By Kevin Smith -- Related Story: IndyMac appears close to collapse -- Related Story: IndyMac rebuts senator's concerns -- Related Story: IndyMac to slash jobs -- Related Story: IndyMac responds to online criticism of high- yield CDs -- Related Story: US regulators take control of IndyMac PASADENA - There was no shortage of ambition at IndyMac Bancorp Inc. And there's no arguing that the bank achieved success. Last year, it ranked as the second-largest independent...

2008-07-12 21:00:10

By Gregory J. Wilcox Federal regulators on Friday closed the $32 billion IndyMac Bank, the largest regulated thrift ever to fail and the second-largest financial institution shuttered in U.S. history. The action by the Office of Thrift Supervision was prompted by a $1.3billion run on the bank by worried customers and came five days after the Pasadena-based company said it was exiting the mortgage business and slashing its workforce in half. "This institution failed today due to a...

Word of the Day
  • A cloth or covering, more or less ornamented, laid over the saddle or furniture of a horse, especially of a sumpter-horse or horse of state.
  • Clothing, especially sumptuous clothing; equipment; outfit.
  • To cover with a caparison, as a horse.
  • To dress sumptuously; adorn with rich dress.
This word ultimately comes from the Medieval Latin 'cappa,' cloak.