After 24 years, AIG lays Financial Products unit to rest
http://dervishcom.blogspot.com/2011/08/after-24-years-aig-lays-financial.html
AIG Financial Products, the little-known unit that set off a panic on Wall Street and came to symbolize the recklessness and greed behind the financial crisis, died this week. It was 24.
The firm's death sentence was sealed after it nearly brought insurance giant American International Group to its knees and forced a massive government bailout in 2008.
The sign at its Wilton, Conn., headquarters is slated to come down this month. Its operations in Hong Kong and Tokyo and London have closed. The few dozen employees who remain include mostly support staff — not the traders that fueled the firm's rise and fall — and even they will be let go or absorbed into other divisions of AIG.
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Source: http://feeds.washingtonpost.com/click.phdo?i=cd02f1627d42c5cd8b985caaea64bc8b
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