Angelo’s windfall: $121.5 million in ’07

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From Reuters: ‘Countrywide Financial Corp. Chief Executive Angelo Mozilo (pictured) realized $121.5 million from exercising stock options and was awarded $22.1 million of compensation in 2007, a year when the U.S. housing slump pummeled the nation’s largest mortgage lender.’

More: ‘Mozilo, long criticized for his compensation packages, realized the option gains by acquiring and selling 4.92 million shares under a pre-arranged trading plan, Countrywide said in a Thursday filing with the U.S. Securities and Exchange Commission. ... Mozilo’s compensation fell 49% from a reported $43 million in 2006. The bulk of his 2007 compensation was from $20 million of stock and option awards made early in 2007, before borrower defaults soared and liquidity grew tight.’

My two cents: Man, that’s more money than the Clintons made!

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Photo Credit: Bloomberg News.