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On Thursday, the Securities and Exchange Commission began its media blitz against Angelo Mozilo by sending out a release with some choice email excerpts from the former CEO of Countrywide Financial. The SEC says these emails were sent from Mozilo to former Countrywide President and COO David Sambol, former CFO Eric Sieracki, and other company executives in 2006.
The SEC is alleging that Mozilo and others knew that Countrywide was on shaky financial footing, all while they told investors that mortgages were healthy and the coast was clear. In the eyes of prosecutors, the emails paint the picture of executives who knew more then they were telling the public.
EXCERPTS OF EMAILS FROM ANGELO MOZILO ...
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