Rainmaker Mozilo Exits Under a Cloud

Big Stock Sales, Mortgages to Friends Fueled View Countrywide CEO Had Stayed Too Long

By JAMES R. HAGERTY June 28, 2008

Angelo Mozilo, slated to step down as chief executive of Countrywide Financial Corp. on Tuesday, is departing with a devalued reputation partly because he stayed too long and at times ran the publicly traded mortgage lender as if it were his own company.

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