Matt Taibbi: Angelo Mozilo, Former Countrywide CEO, Claims He Doesn't Know What 'Verified Income' IsQuicklink submitted by Sheila Samples Permalink
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|Another day, another corporate titan suffering from devastating amnesia. This time, the memory-loss patient is none other than Angelo Mozilo, the former CEO of Countrywide Financial. Deposed in the landmark lawsuit between the monoline insurer MBIA and Countrywide/Bank of America, Mozilo professed not to know the difference between "verified" income and "stated" income. He also made some incredible remarks regarding his notorious "Friends of Angelo" lending program, in which, among others, political figures like North Dakota Senator Kent Conrad and Connecticut Senator Chris Dodd received Countrywide mortgages on highly advantageous terms just because they were tight with the CEO.|
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