Overview

• Angelo Mozilo was the former CEO of Countrywide Financial and known for his promotional skills.
• Under Mozilo's leadership, Countrywide grew rapidly but he took excessive risks with lending standards.
• Countrywide initially had huge success but Mozilo's reckless practices caused the portfolio to suffer.
• The company's problems led it to be acquired by Bank of America at the height of the housing crisis.
• Mozilo passed away this week at the age of 83.