Halah Touryalai, Forbes
Former Countrywide CEO, Angelo Mozilo,”This company was my sixth child.”
Angelo Mozilo, the former Countrywide CEO who sold the company to BofA just as the housing bubble burst, says the mortgage originator was a “world-class company” that did not cause the country’s foreclosure problem.
His comments come from a 2011 deposition (full deposition below) that was released last week. In it the plaintiffs lawyer asks Mozilo, who paid $67 million to settle with the SEC back in 2010, if he has any regrets about the way he ran Countrywide in light of “all the foreclosures and ruined lives and lawsuits.