Former Countrywide CEO to stand trial in Broward
OPS_admin | May 05, 2009 | Comments 0
Former Countrywide CEO to stand trial in Broward
Angelo R. Mozilo, the former chairman and CEO of disgraced lender Countrywide Financial Corp., will have to stand trial in Broward County Circuit Court on charges of deceptive trade practices.
U.S. District Court Judge Dana Sabraw granted Florida Attorney General Bill McCollum’s request that the case be sent back to state court.
Mozilo’s attorneys had argued the issues in the case were federal and not state.
“Angelo Mozilo should absolutely face a Florida court and Florida’s citizens for his business practices, especially those which victimized Florida homeowners,” McCollum said in a news release.
The original lawsuit, filed last June, alleged that the company signed up clients with mortgages they could not afford or provided loans with rates that were misleading.
In October, Bank of America Corp. agreed to provide $8.4 billion to modify the troubled mortgages it acquired as part of its purchase of Countrywide last July.
via Former Countrywide CEO to stand trial in Broward – South Florida Business Journal:.
Filed Under: Crime, Legal Issues
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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