Mozilo to give up $37.5 million severance pay
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.
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.