$70 million severance for Countrywide’s Mozilo?

Countrywide Financial is being swallowed by Bank of America, but don’t cry for Angelo Mozilo, Countrywide’s embattled CEO.

The butcher’s son from the Bronx who founded Countrywide in 1969 could walk away from the deal with $70 million or so, according to The New York Times.

That’s in addition to more than $400 million he has received from the company since 1999 in pay and gains on stock options.

Countrywide, the nation’s largest mortgage lender, has been ground zero the past year for the subprime mess. Bank of America said today that it is acquiring the troubled firm in a $4 billion stock deal.

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• Questions about Countrywide-Bank of America deal - February 17, 2008
• Countrywide’s self-made men - July 27, 2007
• The tragedy of Countrywide Financial and Angelo Mozilo - June 26, 2008
• SEC charges Mozilo and 2 other former Countrywide execs - June 5, 2009
• O’Neal, Prince and Mozilo questioned about pay - March 7, 2008
• Conrad and Dodd, a Tale of Two Friends of Angelo - June 19, 2008
• Henry Cisneros, Madonna and the Big O - October 19, 2007
• IndyMac’s Michael Perry has the toughest job in America - July 9, 2008
• Philip Milne: Another well-paid victim of the mortgage crisis - June 27, 2008
• Former Countrywide execs now profit from bailout - March 5, 2009