The SEC charged Countrywide Chief Executive Angelo Mozilo with securities fraud. He is accused of "selling his Countrywide stock for nearly $140 million in profits while knowing that Countrywide's business model was deteriorating."
Mark Frauenfelder is the founder of Boing Boing and the editor-in-chief of MAKE and Cool Tools. Twitter: @frauenfelder. Come and hear Mark speak at the ALA conference in Chicago on July 1.