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WSJ: SEC Staff Recommending Filing Civil Fraud Charges On Angelo Mozilo's Ass

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Potential charges apparently include "alleged violations of insider-trading laws as well as failing to disclose material information to shareholders." No comment from the Countrywide founder's representation, or Moz himself, who has reportedly barricaded himself in a local Mystic Tan.
Will BAC be on the hook for those sweet legal fees? A reader believes so! "And if I remember correctly Ken Lewis (aka his shareholders) was a schmuck and agreed to cover all of Angelo's legal costs, which would probably include civil charges."

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