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On Friday, the House of Representatives' watchdog committee corralled former Citigroup CEO Charles Prince, former Merrill Lynch CEO Stanley O'Neal and Countrywide Financial CEO Angelo Mozilo to find out whether executives should be compensated handsomely when their companies fare poorly.
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Christopher Dodd of Connecticut and Kent Conrad of North Dakota, as well as a few other influential Washingtonians, were listed by Countrywide employees as FOAs, or "Friends of Angelo, " a reference to Angelo Mozilo, Countrywide's CEO.
NPR: Senators Reportedly Got Favors from Countrywide
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Mr. ANGELO MOZILO (CEO, Countrywide Financial): Mr. Chairman, I was with the company 40 years.
NPR: Lawmakers Grill Subprime Execs on Pay
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Last year, to settle similar securities fraud charge, Angelo Mozilo, the CEO of Countrywide Financial Corp.
FORBES: SEC Sues 6 Ex-Freddie And Fannie Execs For Securities Fraud
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Back then it was CEO Ken Lewis at the helm of BofA and who formed both the Countrywide and Merrill deals.
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