Oversight Committee to Examine Mortgage CEO Severance Packages

As part of its ongoing investigation into executive pay, the Oversight Committee invited three CEOs implicated in the subprime mortgage crisis to testify on February 28 about their severance and compensation packages: Mr. Angelo Mozilo, the CEO of Countrywide Financial; Mr. Charles Prince, the former CEO of Citigroup; and Mr. E. Stanley O’Neal, the former CEO of Merrill Lynch.

Update: The hearing previously scheduled for February 7 has been rescheduled to February 28.