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Angelo Mozilo

News Flash: Wall Street Pros Struggle With Ethics

Wall Street apparently thinks no better of itself than the average American does.Bankers, brokers, traders and the like have been targeted for much scorn in the wake of the financial crisis of 2008. The bursting of the U.S. credit bubble left millions of Americans out of work, caused record numbers of home foreclosures, slashed households' net worth and evaporated retirement accounts.Rightly or wrongly, Wall Street received much of the blame for these dire circumstances with a majority of Americans holding the view that greedy, unethical bankers cynically exploited a dangerously overvalued housing market to boost their already bloated profits.Ponzi scheme mastermind Bernard Madoff, former Countrywide Financial CEO and king of the dubious subprime mortgage Angelo Mozilo, and unrepentant Wall Street titans like former Lehman Brothers CEO Richard Fuld became household names and archetypes of financial villainy.Adding insult to injury, when the bubble burst and Wall Street seemed poised fo...

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  1. SEC has examined Bank of America mortgage repurchases

    Securities regulators have made inquiries into the mortgage repurchase practices at Bank of America Corp's Countrywide unit, according to a transcript filed in a law...

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    Former Lobbyist Jack Abramoff argues funds are dwindling for political influence and the industry is having less impact in D.C.

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  5. Corzine’s Investing Irony

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