Finance is a feminist issue
Two former American International Group Inc female vice presidents have sued the insurer and its derivatives unit, saying they were fired after complaining about a "boys club" atmosphere and alleging gender and age bias against older women.
The women worked for AIG Financial Products, the unit where enormous, failed bets were made on credit default swaps, resulting in about $180 billion of federal bailouts that left taxpayers owning nearly 80 percent of New York-based AIG.
In a lawsuit filed Monday in the New Haven, Connecticut federal court, Susan Potter and Deonna Taylor alleged that AIG misled them about the existence of a salary cap, and paid male employees and younger employees more for comparable work.
The women also said the defendants "fostered a 'boys club' atmosphere," and that 96 of AIG's 108 vice presidents worldwide were men. They further alleged that Joseph Cassano, who once led AIG Financial Products, preferred to attract younger workers to give AIG "curb appeal," and once remarked that he did not want any employees who looked like his aunt.
"Curb appeal..." One question:
How would Cassano know about that?
NOTE Via Cannonfire.