Countrywide CEO Angelo Mozilo Gives Up $37.5 Million In Severance Pay

Amid increasing criticism, Mozilo has decided to forfeit $37.5 million in severance pay that he would have received upon retiring.

Capitol Hill has been increasingly critical of executive compensation in the midst of a housing and credit crisis. This was surely one of the factors that led to Mozilo’s decision.

What do you think? Does Mozilo deserve a large severance package?