So, according to reports, the events of the last several days have left AIG scared shitless. 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."