SEC (Finally) Charges Former Countrywide CEO Angelo Mozilo; Irell to Lead Defense

The wait is over: On Thursday the Securities and Exchange Commission charged former Countrywide Financial Corp. chief executive officer Angelo Mozilo--the most visible villain of the subprime mortgage meltdown--with securities fraud and insider trading. It also, according to Legal Times, brought securities fraud charges against Countrywide's former COO David Sambol and former CFO Eric Sieracki. Full story