Hey BofA Shareholders! You're Paying Mozilo's Legal Fees (BAC)

The Business Insider ^ | 6/9/09

[FromLori]

Another thing to be po'd off at Ken Lewis about if you're a Bank of America (BAC) shareholder: You're paying for Angelo Mozilo's legal defense, as fe faces civil fraud charges from the SEC. Granted, The Tanned One had that agreement in place with Countrywide prior to the sale, and Bank of America inherited that when it bought the company. And it's also true that in Q1 Countrywide was a big contributor to Bank of America's earnings. So maybe you should be grateful! A few extra lawyer bills are a small price to pay.

Although if the refi boom melts in the face of higher interest rates... Well then that Countrywide arm will then be re-exposed as the garbage you always figured it was.

[JasonC]

I'm not PO'ed at the president of B of A. I am POed at all the doommongering slanderers doing their damnedest to destroy American capitalism and American companies. Cut it out. Yesterday.