Massive fraud in COUNTRYWIDE was ongoing for at least a decade prior to the financial crisis. The evidence shows that COUNTRYWIDE was operating as a corrupt organization under CEO ANGELO MOZILO and Chief Legal Officer SANDOR SAMUELS. Such conduct of the Los Angeles-based COUNTRYWIDE was made possible through direct collusion with the LA-JR (Los Angeles Judiciary Racket).
Los Angeles County, State of California, US law enforcement and US banking regulators were fully informed of the criminality in the sub-prime industry well before the onset of the financial crisis, but all worked in concert to cover it up. In contrast, following the eruption of the crisis, senior officers of some of the same agencies, repeatedly made false and deliberately misleading statements in various hearings before the US Congress, where they denied any evidence of criminality in the sub-prime industry.
Tags: Bank of America Corporation, BAC, SEC, Brian Moynihan, sub-prime crisis, banking regulation, US banking bailout
Location: Los Angeles, California, United States (load item map)
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