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CEOs on the Spot For Mortgage Crisis

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CEOs on the Spot For Mortgage Crisis The CEO of Countrywide and former CEOs of Merrill Lynch and Citigroup — three of the biggest banks involved with the subprime mortgage crisis — testified in front of the House Committee on Oversight and Government Reform. According to ABC News, these three CEOs received over $460 million in compensation in just five years, while in the second half of 2007 Countrywide lost $1.6 billion, Merrill Lynch lost $10.3 billion, and Citigroup lost $9.8 billion.

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