This is just ridiculous! I wonder if these traders at AIG still want to fix this CDO mess now that they have to take this kind of abuse. Hell, I would leave bonus or no bonus if I got death threats or needed armed guards just to get in the front door of my workplace.
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.
That is what happens when populist frenzy is whipped up into a raging inferno by Obama and Congress. I think New York AG Cuomo wanting to name names on who got the bonuses will make things even worse. I'm pretty sure morale will go right into the toilet (if it wasn't there already) since some trader (more likely some kid in Marketing) might get killed off by some nutcase for the sole crime of coming to work at AIG. In other words don't take that TARP money or the AG of New York could put your name out there in public and get you killed.