Legal problem after legal problem getting piled higher and deeper for Countrywide in the last couple of weeks...

Countrywide Chairman and CEO Angelo Mozilo might just be in some very big trouble:

SEC Begins Formal Probe Of Countrywide
The Securities and Exchange Commission escalated its scrutiny of Countrywide Financial Corp. into a formal investigation, according to a regulatory filing by Bank of America Corp.

The document didn't specify what aspect of the lender the SEC's probe is focused on, although regulators launched an informal inquiry into Countrywide Chairman and CEO Angelo Mozilo's stock trades last fall.

Representatives for Charlotte, N.C.-based Bank of America and Countrywide declined to comment beyond the filing Friday.

Please note the privacy issue story at the end of this because Countrywide's legal troubles just keep getting piled higher and deeper:

Let us take a peek at last year's Bill O'Reilly news starting here, shall we?

Bill O'Reilly Says He Will "Destroy" Daily Kos Today Hotlist
by Hunter
Mon Jul 30, 2007 at 03:28:17 PM EDT

Today, Father Coughlin -- er, sorry, frog in my throat -- Bill O'Reilly is planning another in his ongoing attacks against Daily Kos and YearlyKos. Fox News has apparently been emailing the Democratic campaigns asking them for "comment" on Bill's ongoing Jihad of Jackassery: the following email was sent on to us from one of those Democratic campaigns:

Crossposted from DailyKos and to BelowBoston.

There have been plenty of signs along the way -- bright, gaudy, glaring signs to some of us, which only now stand out to others in hindsight. Joe Lieberman is a former Democratic leader, now compromised by his claims of faux bi-partisanship and blatant support of Republican candidates, policies and talking points.

Scott In NJ's diary Harry Reid can't strip Lieberman of his committee assignments and Steve Singiser's diary Senator Reid: Show Me Something. Expel Lieberman Tomorrow. both wrangle with the issue. A brief blurb I put up over on ePluribus Media 2.0 provides a short collection of some of the signs, portents and their meanings.

What does it all mean? Has this all been avoidable, or are we as a nation perpetually stuck watching a Congressional rendition of kabuki theatre in a Potempkin village,¹ hoping in vain for our broken system of government to fix itself and justify our efforts to get our nation back to some semblance of a true Democracy?