|"Embattled Countrywide Financial, the nation's No. 1 mortgage lender, was forced to tap an $11.5 billion line of credit Thursday to run its business during the credit crunch, and said it's toughening underwriting standards on home loans.|
At the same time, SEC filings show the company's chairman has made a $13 million profit in the past month selling Countrywide stock on the decline."
Nice. It is amazing how they come up with these rules for people that work in the investments industry like the 60 day hold period but the CEO's and officers can dump before announcing they have major problems at their company. To me, that violates Reg FD. That stinks for those shareholders of Countrywide.