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Countrywide heads get $19 million reward

March 30, 2008 12:00:00 AM PDT
Leaders of Calabasas-based Countrywide are getting $19 million in stock thanks to a take-over by Bank Of America.Bank officials say the money will go to Countrywide's CEO and President as rewards for their performance.

Earlier this year, lawmakers accused the two of helping to foster the current mortgage crisis.

In January, Bank Of America agreed to buy Countrywide for $4 billion.

The president will get an extra $28 million to stay on with the combined company.

 

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