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Countrywide chairman Mozilo accidentally replies to floundering customer with disparaging email

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Liberal_in_LA Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:20 PM
Original message
Countrywide chairman Mozilo accidentally replies to floundering customer with disparaging email
Edited on Wed May-21-08 05:42 PM by Liberal_in_LA
http://money.cnn.com/2008/05/21/news/companies/countrywide_email.ap/index.htm?section=money_mostpopular

Countrywide e-mail snafu angers borrowers
Mortgage lender chairman Angelo Mozilo accidentally replies to floundering customer with disparaging e-mail.

May 21, 2008: 2:36 PM EDT

CALABASAS, Calif. (AP) -- The chairman of beleaguered Countrywide Financial Corp. raised eyebrows and tempers with his snippy reply to an e-mail plea from a man who said he was in danger of losing his home.

"Disgusting," Angelo Mozilo wrote in his inadvertent reply to an e-mail from Daniel Bailey Jr. who had asked the company to modify terms of his adjustable-rate mortgage
*******************

"This is unbelievable," Mozilo wrote Tuesday. "Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the Internet. Disgusting."

Mozilo apparently clicked "reply" instead of "forward," sending his comments back to Bailey.

Flame war: Bailey posted the response on a LoanSafe forum, touching off a furor on housing Web sites.

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Qutzupalotl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:31 PM
Response to Original message
1. I love these inadvertent glimpses into their REAL thinking.
We appreciate your business! You worm.
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N4457S Donating Member (415 posts) Send PM | Profile | Ignore Wed May-21-08 06:14 PM
Response to Reply #1
6. I Do...
...think they're gonna find something in his background and off to the pokey he'll go, seventy years old or not.
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N4457S Donating Member (415 posts) Send PM | Profile | Ignore Wed May-21-08 05:34 PM
Response to Original message
2. I Don't Know...
...if it's necessarily fair, but they're gonna put this guy in the can before this thing is all said and done.

If you called central casting and asked for someone who looked like a mob boss, they send him.

Not good.
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Liberal_in_LA Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:43 PM
Response to Reply #2
4. added pic because of your 'central casting' comment. The guy is sure ORANGE
hasn't he heard that too much sun causes skin cancer?
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:19 PM
Response to Reply #4
8. That's a spray-on; here in AZ, they are rampant. And U-G-L-Y. nt
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Nay Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:37 PM
Response to Original message
3. Anyone who thinks that CEOs of these corps ever gave a shit about
anything but their own bonus checks is a certified idiot. Why are they shocked when such inadvertent emails hit their mailboxes?

NEWSFLASH: Mr. Mozilo thinks you are all morons for taking on his comical mortgages, but he'll be happy to take your money.
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cali Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:44 PM
Response to Original message
5. This reminds me of a story my dad used to tell
about the manager of some hotel who got a letter complaining of bed bugs. He wrote a note to his secretary saying "Send this bastard the bedbug letter", and the secretary accidently attached the note to the form letter declaring that the hotel had no bed bug letters and sent it to the customer.
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Blue_Tires Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:15 PM
Response to Reply #5
7. i remember that
read it in some book somewhere...
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:30 PM
Response to Original message
9. ENRON LIVES: Check this out from the same story...
According to congressional figures, Countrywide lost $1.2 billion in the third quarter of 2007 and another $422 million in the fourth quarter as the subprime mortgage crisis hit. The company's stock fell 80% between February and the end of the year.

During the same period, Mozilo received a $1.9 million salary. He also received $20 million in performance-based stock awards and sold $121 million in stock.


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