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Angelo's Legal Aid
Thank you, fellow taxpayers, for your generous contributions to the Angelo Mozilo defense fund.
Bank of America(BAC Quote) confirmed on Tuesday it is covering the legal fees for the former Countrywide CEO who has been charged with securities fraud and insider trading. BofA, America's biggest bank, says it is obligated to shell out for Mozilo's defense as a result of an indemnity clause in place when he ran Countrywide.
The Securities and Exchange Commission filed civil charges against Countrywide's co-founder last Thursday, alleging he raked in more than $139 million of improper profits by exercising stock options in 2006 and 2007 while the nation's housing market and Countrywide's finances were collapsing. ...
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