AIG 'Boys Club': Former Employees Allege Older Women Were Discriminated Against In Cassano's Derivatives Unit

bloomberg.com:

Feb. 24 (Bloomberg) -- American International Group Inc.'s derivatives unit, which brought the firm to the brink of failure with bets on mortgages, was sued by two ex-vice presidents who said a "boys club" culture discriminated against older women.

Read the whole story: bloomberg.com

Comments

[studmoose]

09:41 AM on 02/26/2010

Did/Do they have a BOOM BOOM ROOM like several other Wall Street firms did?

[NoWMDs]

01:53 PM on 02/25/2010

$20 is the new $50.00

[marijam]

12:37 PM on 02/25/2010

This is exactly why I lost my job at a bank in the IT department. I don't look like Halle Berry or Beyonce and I'm definitely older than they are.

[ibsteve2u]

11:56 AM on 02/25/2010

lolll...given the overall level of arrogance - the assumption of privilege, the air of entitlement - that high finance in America continually puts on display, I find the atmosphere described by the plaintiffs to be very easy to visualize.

Wouldn't surprise me to hear of the existence of a glass-walled conference room where the high-level suits huddled periodically to "inspect" potential candidates as they walked to the room where interviews were being conducted.

[peterg76]

11:56 AM on 02/25/2010

What? Unethical behaviour from bankers?

[DeadPhish]

11:17 AM on 02/25/2010

Post names so we can all harrass the families of these guys that thought nothing could hurt them...see how they feel after their families kick 'em out of the family and take %50+ of all family assets.

[sloreader]

10:03 AM on 02/25/2010

Kicking these clowns to the curb would be very appealing.

[HalEBurton]

10:01 AM on 02/25/2010

This should not come as a surprise. Their is a foundational aspect to the personality that people like Cassano possess: They are psychopaths. So their actions are not going to be limited to monetary theft.

[cavegal]

07:37 AM on 02/25/2010

OT but related:

The only reason such apathy exists, however, is because there's still a widespread misunderstanding of how exactly Wall Street "earns" its money, with emphasis on the quotation marks around "earns." The question everyone should be asking, as one bailout recipient after another posts massive profits — Goldman reported $13.4 billion in profits last year, after paying out that $16.2 billion in bonuses and compensation — is this: In an economy as horrible as ours, with every factory town between New York and Los Angeles looking like those hollowed-out ghost ships we see on History Channel documentaries like Shipwrecks of the Great Lakes, where in the hell did Wall Street's eye-popping profits come from, exactly? Did Goldman go from bailout city to $13.4 billion in the black because, as Blankfein suggests, its "performance" was just that awesome? A year and a half after they were minutes away from bankruptcy, how are these a$$holes not only back on their feet again, but hauling in bonuses at the same rate they were during the bubble?

The answer to that question is basically twofold: They rap3d the taxpayer, and they rap3d their clients.

http://www.rollingstone.com/politics/story/32255149/wall_streets_bailout_hustle/

[HalEBurton]

10:02 AM on 02/25/2010

In terms of framing I never, ever refer to the FIRE sector as an 'industry'.

[ibsteve2u]

11:59 AM on 02/25/2010

If we fired the top 50% of the entire FIRE sector, would America notice?

[WIpatriot]

01:37 AM on 02/25/2010

It would have been nice if the two of them had filed the suit BEFORE "Potter lost her job in July 2009 as the unit was being dismantled in the wake of the $182.3 billion U.S. bailout..."

[nopilikia]

12:47 AM on 02/25/2010

So that's what the bonus dollars were for. Trolling for younger chicks.

[pointyheadprodigy]

11:06 PM on 02/24/2010

So they'll just have to do the same thing for the men too!!! Ha-ha-ha.

[munki]

08:20 PM on 02/24/2010

Why are we NOT even a bit surprised !

[nicole473]

08:09 PM on 02/24/2010

My x boss at AIG certainly did.

[HalEBurton]

10:06 AM on 02/25/2010

I was a student at Lou Sandberg University. Class of '82. 70 Pine. Maiden Lane. Those were the days. I used to watch the Greenberg boys, Evan and Jeff, living the thug life in downtown Manhattan.

[DiogenesOfAlaska]

06:23 PM on 02/24/2010

It would be very sad if this would turn out to be truly the best source of charges that can be pressed against Cassano.

But hey, we're ok with anything we can get.

Did I mention that the man sucks?

[alreadybad]

10:34 PM on 02/24/2010

"It would be very sad if this would turn out to be truly the best source of charges that can be pressed against Cassano."

Seriously, I would be willing to put that question before the imaginative mind of get 'em with a stamp, John Grisham,