Angelo Mozilo Update

So a little more than two years ago I blogged about Angelo Mozilo (see that blog post at

http://victoriousconqueror.blogspot.com/2008/03/angelo-mozilo.html), one of the founders and the CEO of famed home mortgage lender, Countrywide (which was later acquired by Bank of America).

Mozilo had been a legend in the mortgage industry, but greed had caused him to instead become a spectacle in the mortgage industry. And then the shame of the mortgage industry.

In recent news, it's been reported that Mr. Mozilo will pay $22.5 million to settle SEC charges that he misled investors (in Countrywide). Additionally, Mozilo will pay $45 million in "disgorgement of ill-gotten gains." Said differently, he'll be giving back some of that greed money.

Such a legacy you've squandered, Mr. Mozilo. Totally squandered.

At least he'll still be rich. Apparently that's what he cherished most anyway.