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  • bermudashorts8661 bermudashorts8661 Mar 10, 2008 1:30 AM Flag

    time to go after the bankers

    Sen. Schumer urges SEC expand Countrywide probe
    Thursday, October 18, 2007; 4:54 PMWASHINGTON (Reuters) - Sen. Charles Schumer, a New York Democrat, said on Thursday an investigation of Countrywide Financial Corp’s chief executive should be expanded to include the company.The Securities and Exchange Commission should “expand its informal probe of suspicious stock sales by Countrywide CEO Angelo Mozilo to include the company itself, which may have taken steps to enable Mozilo’s stock dumping as the subprime crisis heated up and Countrywide’s stock prices plunged,” Schumer said in a statement.The request comes after reports surfaced the SEC has opened a probe into Mozilo’s stock sales and adds to the growing woes at the nation’s largest mortgage lender.Schumer asked the SEC to look at whether Countrywide tried to push up the stock price for Mozilo and whether the company misled investors by failing to disclose that Mozilo was misusing an SEC provision to dump his shares

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