March 9, 2008
In The News
N.Y. Times - Raymond Hernandez, Countrywide Said to Be Subject of Federal Criminal Inquiry
LATimes - Jonathan Peterson, Mozilo Defends Cashing in Countrywide Stock
Detroit Mayor Kwame Kilpatrick is getting close scrutiny as a result of the release of text messages that are now being compared to prior testimony given by him. (see background here) The Detroit Free Press discusses this here, see also WoodTV.Com here. Professor Peter Henning discusses in this last piece what possible charges could be used against the mayor and what effect charges might have on his political position.
WSJ Blog - Dan Slater - Pellicano Believes in Omerta; Prosecution Calls Ex-Diamondback
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And I wonder if Bank of America will back out of their takover of Countrywide since Countrywide is being investigated by th FBI. And it is interesting how the three CEOs who testified for the Oversight Committee on Friday had two titles: CEO and Chairman of the Board. I have been a firm believer that the titles CEOs shouldn't hold two titles. I remembered former CEO Michael Eisner of Disney. Eisner held titles of CEO and Chairman of the Board. Eisner was later stripped his title of Chairman by the shareholders. I just hope that there are stricter corporate rules for CEOs accountability in a company that does and doesn't do well.
Posted by: SP Biloxi | Mar 9, 2008 11:32:43 PM