AIG Employee: "I have a horrible, horrible, horrible feeling that this is going to end badly."
Posted by Bess Levin, Mar 17, 2009, 11:59am
Source:
http://dealbreaker.com/2009/03/aig-e...a-horrible.php
So, according to reports, the events of the last several days have left AIG scared ****less. The fear emanating from the insurer, and specifically Team Financial Products, is two-fold. The first thing causing them to quake in their boots is you, the American taxpayer. You really get scary when it comes to your money.
A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.
"It's a mob effect," one senior executive said. "It's putting people's lives in danger."
The second thing causing them to almost comically soil themselves, is the monster they've created with their own two hands which, shockingly, the company is yet to officially speak as candidly about as this guy:
"It's going to blow up," said a senior Financial Products manager, who spoke on condition of anonymity because he was not authorized to speak for the company. "I have a horrible, horrible, horrible feeling that this is going to end badly."
According to Reports article:
AIG Offices patrolled by Armed Guards
Excerpt:
Politicians and the public spent yesterday demanding that AIG rescind payouts that they said rewarded recklessness and greed at a company being bailed out with $170 billion in taxpayer funds. But company officials contend that the uproar is scaring away the very employees who understand AIG Financial Products' complex trades and who are trying to dismantle the division before it further endangers the world's economy.
"It's going to blow up," said a senior Financial Products manager, who spoke on condition of anonymity because he was not authorized to speak for the company. "I have a horrible, horrible, horrible feeling that this is going to end badly."
Full Article (a lot of what's been said already in the posts above this one):
http://macedoniaonline.eu/content/view/6016/52/