Angelo R Mozilo was the co-founder and chief executive officer of Countrywide Financial until July 1, 2008. He started the company in 1969.
The company soon grew to become one of the biggest mortgage lenders in the US. Countrywide was listed on the New York Stock Exchange in 1984. They granted huge loans to borrowers without verifying their repayment abilities.
Promoting risky loans, the company played a crucial role in huge subprime mortgage crisis. Finally, this led to the collapse of the company. The company was subsequently taken over by the Bank of America. CNN named Mozilo as one of the 'Ten Most Wanted: Culprits' of the 2008 financial collapse in the United States.
Image: Countrywide Financial Corporation founder and CEO Angelo Mozilo is sworn in to testify before the House Committee on Oversight and Government Reform on Capitol Hill in Washington. | Photograph: Kevin Lamarque/Reuters
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