NOT ENOUGH

One of the problems with holding MOTU accountable is that the fines are just too small in comparison to the amount of money they fraudulently made. A good example is former Countrywide CEO Angelo Mozilo. Leaving aside his salary and bonuses, Mozilo will pay less than 50% of his ill-gotten gains.

Mozilo to pay millions in Countrywide settlement
LOS ANGELES | Fri Oct 15, 2010 3:25pm EDT

LOS ANGELES (Reuters) - Former Countrywide Financial Corp chief Angelo Mozilo settled charges on Friday that he duped the home loan company's investors while reaping a personal windfall, ending one of the biggest enforcement actions to come from the financial collapse.

Mozilo will pay a $22.5 million civil penalty, plus $45 million in disgorgement, according to U.S. District Court Judge John Walter.

The SEC brought the fraud case in June 2009. The former executives were accused of failing to disclose the true state of Countrywide's deteriorating mortgage portfolio. Regulators also contend Mozilo made nearly $140 million by dumping Countrywide stock before the truth emerged.