Nassau expected to pay $65 million in severance this year
Nassau County is expected to pay $65 million in severance costs this year as it pushes older, higher-paid workers to retire in an attempt to reduce future costs, officials said Wednesday.
Mr. Mozilo said on Monday that he would give up $37.5 million in severance pay and other fees he stood to gain from the mortgage lender's sale to Bank of America amid criticism over his role in the mortgage meltdown.