Talk about unintended consequences.
Every big-time banker saw Angelo Mozilo sell off stock and pocket $17 million per week during the final sunset of Countrywide, and then he walked with immunity. Who doesn’t want that package?
These people think they are above the law, and the way the feds ended this chapter will only make other bankers want to hatch their own scheme.
P.S. The long-time Wells Fargo employee who ran the scam was not prosecuted. On no, instead she walked with $125 million in stock options.
Here’s the story: