A Special HousingPANIC Message to the Countrywide Mortgage employees who are suing Countrywide and Orangelo Mozilo

Don't just sue. If you're at the corporate headquarters, at 2:00 PM on Friday, everyone get out of your cubicles, and march your soon-to-be-laid off butts down to Orangelo Mozilo's corner office, and DEMAND that that son of a bitch put $100 Million of his ill-gotten insider-trading gains into your 401k plan to help cover your losses.

2:00 PM on Friday. Each and every one of you. Have the courage (finally) to do what's right. And remember, you're about to be laid off anyway, so you have nothing to lose.

Nothing.

Send pictures to HP, do a sit-in if you need to, and good luck out there.

Employees Sue Countrywide, Alleging Loss of Millions of Dollars in 401k Plan

Some Countrywide Financial Corp. employees sued the mortgage lender Wednesday, claiming they suffered heavy losses in their 401k retirement accounts after the company failed to warn them about the depth of its financial troubles.

The lawsuit, filed in U.S. District Court in Santa Ana, seeks class-action status and names as defendants Countrywide Chairman and Chief Executive Angelo Mozilo and benefits committee members in charge of the retirement plan, according to attorney Steve Berman, who is representing the plaintiffs.

He said employees decided how much of their salary to set aside in their retirement plan based in large part on their understanding of the company's financial health.

But those overseeing the plan failed to warn workers or intentionally concealed key information, the lawsuit claims.

"Most of these employees weren't risk-takers, rather claims processors and line staff who go to work every morning, putting a little away every month for retirement, or to finance a child's education," Berman said in a statement.