Vic Smith wrote:
On Tue, 03 Mar 2009 22:04:24 -0500, HK wrote:


Once again, I will remind you and others that if you are a trustee on a
union pension fund and "mess around" with the funds, you are prosecuted,
and the financial losses are made good by the mandatory bond. The
bonding company typically works closely with prosecutors to try to
ensure time in the slammer for the perps.

What's really sick about all this is that one of the largest surety
bond providers, if not the largest, is.....AIG.

--Vic


And it is, or was, "A" rated. I haven't kept up with that side of the
biz, but I don't recall reading that AIG had defaulted - yet - on surety
bonds.