The Bottom Line
Countrywide CEO Angelo Mozilo, under pressure from shareholders and Congress, agreed to give up $37.5 million in severance pay, fees, and other rewards.
Countrywide CEO Angelo Mozilo, under pressure from shareholders and Congress, agreed to give up $37.5 million in severance pay, fees, and other rewards. Bank of America has agreed to buy Countrywide for $4.1 billion. Countrywide shares have plummeted in the past year, and Mozilo has drawn criticism for cashing in his company stock as the mortgage market fell. (AP in Yahoo! Finance)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
MOST POPULAR ON THE WEEK
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- 43 TV shows to watch in 2014
- How our botched understanding of 'science' ruins everything
- 6 things the happiest families all have in common
- How U2 became the new Nickelback
- The science of sex: 4 harsh truths about dating and mating
- 13 Urban Outfitters controversies
- America's most surprising banned books
- 11 weeknight dinners you can make without a recipe
- California's epic drought
Subscribe to the Week