Scorn Trails A.I.G. Executives, Even in Their DrivewaysThe A.I.G. executive who was nicknamed “Jackpot Jimmy” by a New York tabloid walked up the driveway toward his bay-windowed house in Fairfield, Conn., on Thursday afternoon. "How do I feel?” said the executive, James Haas, repeating the question he had just been asked. “I feel horrible. This has been a complete invasion of privacy."
...Those bonuses in years past helped make A.I.G. executives into prominent local citizens. They own big houses like Mr. Haas’s, with its three chimneys and its views of Southport Harbor and Long Island Sound in the distance. Some are well-known contributors to arts groups and private schools in Connecticut communities not far from the office park in Wilton that is the workplace of many of the employees in A.I.G.’s Financial Products division, which is at the center of the storm over bonus payments.
Now these executives are toxic, and those communities are rattled and divided. Private security guards have been stationed outside their houses, and sometimes the local police drive by. A.I.G. employees at the company’s office tower in Lower Manhattan were told to avoid leaving the building while a demonstration was going on outside. The memo also advised them to avoid displaying company-issued ID cards when they left the office and to abandon tote bags or other items with the A.I.G. logo.
...And there may be more. The Connecticut Working Families party, which has support from organized labor, is planning a bus tour of A.I.G. executives’ homes on Saturday, with a stop at the company’s Wilton office.
“We’re going to be peaceful and lawful in everything we do,” said Jon Green, the director of Connecticut Working Families. “I know there’s a lot of anger and a lot of rage about what’s happened. We’re not looking to foment that unnecessarily, but what we want to do is give folks in Bridgeport and Hartford and other parts of Connecticut who are struggling and losing their homes and their jobs and their health insurance an opportunity to see what kinds of lifestyle billions of dollars in credit-default swaps can buy.”
http://www.nytimes.com/2009/03/20/nyregion/20siege.html?_r=1&hpAlso from the article:
The largest single bonus check, for $6.4 million, went to Douglas L. Poling, an executive vice president for energy and infrastructure investments. Mark Herr, an A.I.G. spokesman, said Mr. Poling had told him he was returning the bonus “because he thought it was the correct thing to do.”
Public shaming is no substitute for public policy, but it's better than nothing.
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