The CEO pay racket is making headlines again as a congressional committee gears up to grill Countrywide chief Angelo Mozilo.

Reuters reports that the House Oversight and Government Reform Committee will question Mozilo about the major discrepancy between his pay and Countrywide’s performance.Last year the US mortgage lender suffered significant losses and a 80% drop in its stock as a result of the subrime debacle while paying Mozilo a$1.9 million in salary and $20 million in performance-based stock award.

Former Merrill Lynch CEO Stanley O’Neal and former Citigroup CEO Charles Prince are also scheduled to testify.

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