Countrywide’s Mozilo Said to Face U.S. Suit Over Loans

[Crewleader]

August 20, 2014

By Keri Geiger, Tom Schoenberg and Greg Farrell



Countrywide Financial Corp. co-founder Angelo Mozilo hasn’t escaped the wrath of prosecutors for his company’s role in inflating the U.S housing bubble that preceded the financial crisis.

More than 12 months after a deadline passed to file criminal charges, the U.S. attorney’s office in Los Angeles is preparing a civil lawsuit against Mozilo and as many as 10 other former Countrywide employees, according to two people with knowledge of the matter.

The government is making a last ditch-effort to hold him accountable for the excesses of the past decade’s subprime-mortgage boom, using a 25-year-old law that has helped the Justice Department win billions of dollars from Wall Street banks, said the people, who weren’t authorized to discuss the case publicly.

http://www.bloomberg.com/news/2014-08-20/countrywide-s-mozilo-said-to-face-u-s-suit-over-loans.html

[dixiegrrrrl]

1. "More than 12 months after a deadline passed to file criminal charges,

the U.S. attorney’s office in Los Angeles is preparing a civil lawsuit against Mozilo"

Get that? Feds let the criminal statute of limitations expire.
Now all that remains is the basic issue of how much they will charge the guy and his henchmen.
No jail time.
Just a plea deal that is worded to avoid guilt, to avoid admission of any wrong doings.

[font style=color:#FF0000;]there is something terribly wrong with this country, isn't there?[/font]

[Crewleader]

2. You said it my friend!

There is something terribly wrong with this country, big time!