×

Countrywide Employee Email Really Stirs The Pot

After posting an email yesterday from a frustrated Countrywide employee, the Funny Business email folder exploded. Here's a sampling.

From Anonymous Countrywide Employee:
"That email from a supposed Countrywide employee is totally false and I believe you made it up yourself! The employees are kept informed daily about changes, and we are continually told we are going to keep our jobs! Stop making up lies!!!! I am so sick of the false stories and mudslinging. Countrywide doesn't deserve it, and neither does Angelo Mozilo!"

(Note from Jane: I did not make up the email.)

From Jim D., who says he is "A Severed Employee of a Now Non-Existent Lender" (Golden West Financial bought by Wachovia):
"Dear Countrywide Employee,

How would you feel if you were likewise busting your buns working for another mortgage lender (greatest team I ever worked with in my life) ... a lender that had a real business plan that you honestly believed in (no predatory lending) and great customers with 20% downs, good FICOs; your employer had HONEST in-house appraisals...and then another larger bank purchased your company and threw out the good business model and fired everyone?...FYI, my unemployment checks are only enough to pay for food and some utilities ... good luck."

From Terry W., who claims to have already been laid off by Countrywide:
"Here is a note from one of the 'the 12,000' as we are now known. No one has said a thing about the beating WE took. I worked for the FSL (Full Spectrum Lending) division, and the day after we get an e-mail from Mozilo about how we are all his family and we are his primary concern, our Regional Vice President comes in first thing in the morning, with police, we are told to stand back from our monitors, hang up the phones, and gather in the middle of the room. We are allowed to go back to our desks long enough to pick up pictures or anything like that, nothing made out of paper, then we are escorted out. We are given a 2 week severance check, and a hearty good bye...Two days later I get a call from HR and am told I am on a list of 25 account executives that they would like to retain, and am I willing to relocate to another state ( at my expense ) to keep a $1400 a month salary, and hope I don't go broke in the process?...I would like to see Congress strip him (Mozilo) of every dime he has, and pay it back to the shareholders (me being one of them ) who now hold paper of less value than Charmin."

From David in NY:
"The Countrywide worker is no different from those that worked at S&L's in the 1980's. Remember Charles Keating?"

From Alan C:
"This employee is correct, the propaganda inside the company reminds me of TASS, everything is fine comrade....keep on working. Production people who are good are leaving in droves...
The real surprise will be the clash of the two companies. BofA has ethics, people who are responsible, and who are expected to do the right things all the time...Of course , BofA really doesn't want everybody, they will pick the carcass with what they want, and leave the rest to decay."

And, finally, from another anonymous Countrywide employee:
"I get so tired of all the whining about our CEO from employees. Why does everyone equate market trends to how much money they are owed? This man deserves everything he's gotten. HE was in the trenches going to door to door to start this company. When it didn't work in NY, he didn't give up; he moved to CA. From 1969 - 20003, he grew this company 2003 - repeat 2003 - percent! This man didn't have to go public. He did and was rewarded for it...Why should we all get $10,000? Part of the reason we are in this shape now is because too many people broke the law, fudged or stretched information, overlooked things when underwriting, etc.

We could make this a lot better JUST by being positive and embracing market change. However, most of the people complaining got into this when the time was good and never saw a bad so all of a sudden, it's everyone's fault.

As for the BOA talk after the merger, we receive multiple E-mails regarding the status of the merger and what to expect, Q&As, FAQs, etc.

You simply need to go to work and if you want to whine about it, leave!

Maybe the next hurricane won't take your farts next time..."

Comments? Funny Stories? Email funnybusiness@cnbc.com