Bankrupt bond guarantor Ambac Financial threw a private fiesta on Stone Street in Manhattan's Financial District Thursday evening for two of its outgoing executives.
Mad Dog & Beans — a popular watering hole and Mexican cantina in the Financial District — was jam-packed both inside and outside with Ambac employees wearing orange wrist bands for the private event.
It wasn't a party on the scale of the sort Wall Street firms threw before the financial crisis. There was no champagne or outrageously priced scotch. But Margaritas and Dos Equis flowed freely. The tables were covered with food.
"We used to have fancier parties," said one Ambac employee. "But we gotta have parties!"