Will Angelo go OJ on us soon? A white Ford Bronco with an orange man in the back headin to Mexico? Or will he pull a Ken Lay and just conveniently die?
Anyone who thinks the housing crash and mortgage meltdown is over is fooling themselves. The next great chapter is coming - The Arrest of Angelo Mozilo and the Fall of COUNTRYRON. And the charges against Countrywide that will come will give BofA a convenient reason to walk away from that moment of stupidity too as CFC goes bankrupt and folds up shop.
What's frustrating is that HP'ers knew what was going on for months and months, it was all just so OBVIOUS. And yet it took the government years to finally getting around to do something about it, after the real damage had been done.
Government Intensifies Mortgage Investigation
Federal agencies are intensifying a criminal investigation of the mortgage industry and focusing on whether some lenders turned a blind eye to inflated income figures provided by borrowers.
In March, the Justice Department and the F.B.I. began investigating whether the Countrywide Financial Corporation, the troubled mortgage giant, misrepresented its financial condition and loans in filings with the Securities and Exchange Commission.
Countrywide is also under scrutiny by California and Illinois; federal prosecutors in Sacramento; and the United States Trustee, the federal agency that monitors bankruptcy courts. The S.E.C., meanwhile, is examining stock sales by certain Countrywide executives.