Posted on 03/25/2009 4:03:51 AM PDT by Tom D.
DEAR Mr. Liddy,
It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products. I hope you take the time to read this entire letter. Before describing the details of my decision, I want to offer some context:
I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P. I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G. Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage.
After 12 months of hard work dismantling the company — during which A.I.G. reassured us many times we would be rewarded in March 2009 — we in the financial products unit have been betrayed by A.I.G. and are being unfairly persecuted by elected officials. In response to this, I will now leave the company and donate my entire post-tax retention payment to those suffering from the global economic downturn. My intent is to keep none of the money myself.
(Excerpt) Read more at nytimes.com ...
I thought you were taking issue with my post on the subject.
That's called "Congress"!!
Thanks for the case. It appears Feilbogan was DeSantis's senior. Comparison as a whole is irrelevant. What is relevant is that in the Feilbogen case, AIG itself was perfectly content to break the contract. Evidence that the contract existed and was for a specific amount was contained in Gentile's spreadsheet, whose 2 entries were according to Finnegan's direction.
Yeah, I believe I eluded to that in my last response...
All you've done is assume a conclusion, which was the very point of disagreement in the Feilbogen litigation (presence of a contract), in order to assert that the Feilbogen and DeSantis contracts are comparable, in that AIG should be equally willing to abrogate both; or that AIG is inconsistent in acknowledging the existence and legitimacy of DeSantis contract while fighting the Feilbogen contract.
-- It appears Feilbogen was DeSantis's senior. --
I've seen you draw an attachment between Feilbogen and DeSantis in earlier posts. I haven't seen any supporting evidence of a business/working relationship between the two men.
No. The conclusion is the result of of logical operations and based on the evidence contained in the petiiton for summary judgement you presented. The evidence consisted of Gentile's speadsheet and the e-mails. Finegen's later denial can't negate that hard copy evidence.
"in order to assert that the Feilbogen and DeSantis contracts are comparable..."
I never made any such assertion. What I did assert, was that AIG was perfectly willing to break the contract Finegan had indeed verbally agreed to. In fact the evidence shows Finegan's denial was a lie. AIG chose to play games and ignore the evidence that Finegan lied in order to avoid paying. AIG justified this by attempting to assert that the contents of it's employee manual and at-will employment were the legal basis for the decision, instead of the content of CT statutes.
"I haven't seen any supporting evidence of a business/working relationship between the two men."
Energy is a commodity. From DeSantis's resignation note: "I started at this company in 1998 as an equity trader, became the head of equity and commodity trading and, a couple of years before A.I.G.’s meltdown last September, was named the head of business development for commodities."
You get the last word. The evidence doesn’t support you, and I wish I’d not replied to you in the first place.
That's correcct. It supports my conclusion, as I have shown.
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