$57.6M for Countrywide whistleblower

Sometimes, good guys do win.
 
Edward O'Donnell, the former executive at Countrywide Financial who exposed the firm's fraudulent mortgage activity, is getting $57.6 million for blowing the whistle on the company that defrauded Fannie Mae and Freddie Mac. Countrywide's sale of bad mortgages to the government-backed firms helped trigger the Great Recession in 2008.
 
O'Donnell is to receive 16 percent of a $350 million payment from Bank of America, according to CNNMoney.  Bank of America purchased Countrywide in 2008. The payment is part of a $16.65 billion settlement B of A has to pay as a penalty for its role in the mortgage fraud and is the largest financial settlement in history, according to the report.

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