Michelle, thanks for the update.  You would think if Countrywide had told their employees anything they knew and all their employees dumped their stock in a massive sell-off, then when the proverbial doo-doo hit the fan and the stock plummeted anyway, Countrywide would have been sued by the remaining stockholders for insider trading.  Dammed if they do, dammed if they don't.  I don't think this suit will provide any relief to the plaintiffs.  But it probably makes them feel better thinking it will.  Ahhhh such is life.

Actually this story came out on Tuesday, but I think it's important to keep reminding people. Click here.

Oh, I forgot to mention, Warren Buffet was said to have been picking up Countrywide stock to add to his holdings of Wells Fargo and Bank of America.  I think I may borrow some money and follow suit.  =)

Honestly Maggie is right. Things like this are bad no matter how you look at it. It's even worse however when the CEO seems to have known about it over a year ago when he began dumping his own stock. You aren't hearing of anything about that though are you? The whole thing is just awful if you ask me.

yeah,  we should all buy CW stocks.

This situation is sad on all sides. I agree with Maggie.  the company can't tell the employees the stock is going down the tubes.  The employees must be keeping up with the news just like the rest of us (and probably two steps ahead of the rest of us).  

oh my goodness gracious.  This is sort of like an Enron isn't it.  Bad stuff.  Thanks for sharing.  I think that we are all watching Countrywide - sort of the Real Estate Spectator Game!

Maggie - you got it exactly. 

Simon - I know, but I've been behind for weeks, to only be two days behind is now a relief for me!

Jacob - the state of the entire industry is sad right now.

David - we'd either wind up rich or flat broke, lol.

Virginia - makes me glad I'll not an employee - moral has to be very poor.

Kate - thanks for visiting - I wonder what they'll annouce next week?