Wow. Aubrey McClendon, CEO of Chesapeake Energy (CHK), is infamous for his constant buying of his own company stock. I wrote late last week that the stock of CHK was a case study of hedge funds blowing up and liquidating [Oct 9: Hedge Fund Liquidation in Pictures]. I guess it wasn't just hedge funds.

• Aubrey K. McClendon, the billionaire chief executive of Chesapeake Energy Corp., has sold "substantially all" of his stock in the company over the past three days in order to meet margin loan calls, the company said Friday.
• Chesapeake Energy did not disclose the size of the stock sale, pending the filing of documents with the Securities and Exchange Commission, but media reports have placed the number of shares at more than 33 million, making him the Oklahoma City-based company's third largest shareholder.
• "I am very disappointed to have been required to sell substantially all of my shares of Chesapeake," McClendon said in a news release. "These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis."
• Between Wednesday and Friday, he sold 31.5 million of those shares -- 94% of his holdings -- for $569 million
• Last month, Forbes showed McClendon at No. 134 on its list of the nation's 400 richest people, with a net worth of $3 billion, an increase from $2.1 billion the previous year.
• McClendon said he looked forward to rebuilding his ownership position in the company.

That's