In economic news, the former head of Countrywide Financial, Angelo Mozilo, has agreed to pay a record $67 million to settle allegations by the Securities and Exchange Commission that he committed fraud and insider trading for his role in the subprime mortgage crisis. Although the settlement is the highest ever paid for by an executive of a public company, it is just a fraction of what Mozilo earned at Countrywide. Between 2001 and 2006 Mozilo took home $470 million, making him one of the highest-paid CEOs in the country.
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