Thursday, March 19, 2009

Whoops! Not Just "London Loonies"

Commenting on a previous post, I termed the bonus babies at AIG's Financial Products Division "London loonies." Incorrect, or at least incomplete, according to The Stamford Advocate:

[Three Connecticut residents] were identified by the New York Post as recipients of the highly criticized bonuses.

***

The three Connecticut men work for AIG's Financial Products division in Wilton. That group entangled its parent company in a massive web of credit default swaps -- a kind of insurance policy covering debt -- that put AIG on the hook for billions of dollars when mortgage securities and other investments went bad.

***

Finding supporters of the titans of AIG Financial Products' division is hard. Finding anybody Wednesday to talk about [the three] in their neighborhoods proved impossible.

No one answered the door at any of their homes, well-appointed, large colonials with clapboard exteriors and manicured lawns.

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