Afthought

Countrywide Financial: Time To Look At The Board

Why are you surprised?
Enron's board of director's audit committee was chaired by a former dean of the Stanford graduate school of business.
And least we forget, George Bush was a member of Harkin's audit committee in the months prior to its announcement that it was in serious financial trouble.
Bush managed unload his stock before public disclosure tanked the shares of Harkin. He was cleared of wrong doing in a subsequent SEC investigation.
Of course, it helped that his daddy was then the president of the good old boy USA.