Monday, March 28, 2005

Countrywide Exec Takes The Money And Runs

By now the newswires have changed the headlines from "CFO steps down" to "Countrywide names new CFO". I couldn't resist checking insider transactions for Thomas "Keith" McLaughlin, who has been Countrywides' CFO since 2001.

Lo and behold Mr. McLaughlin did sell over 200,000 shares on March 4th. You can't blame him really, because everybody is doing it. Apparently insiders have sold 2.7 million shares in the last six months, 12% of their stake in the firm. And when you check how many shares were purchased; none.


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