Posted on 03/25/2009 11:12:59 AM PDT by OrangeDaisy
The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit, to Edward M. Liddy, the chief executive of A.I.G.
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 ...
Who is John Galt?
Read: I am quitting because I am not getting my taxpayer funded bonus...
Tired of the socialist whining from people who believe that our tax dollars should go to execs of failed companies.
Even more tired of the socialists who try to liberalize/rationalize why tax dollars are funding bonuses for failed execs
Until I saw this letter, I had no evidence, since the MSM isn't about to say anything good about the people who work at AIG.
It's clear that the people who were supposed to get the bonuses, were not the people who collapsed the company.
Just another case of the Dems and the MSM trying to rouse the rabble against Capitalism. Unfortunately, they've done a pretty good job.
You didn’t read the letter, obviously.
Class warfare is so becoming these days!
Exec pay is a company matter. The problem here is "tax dollars are funding.."
I like that! He doesn't want to see the money go down another black hole!
[...”Like you, I was asked to work for an annual
salary of $1, and I agreed out of a sense of duty
to the company and to the public officials who have
come to its aid.”...]
I’m sure this man will be NewYork Slimed by the end of the week....just wait
Shut up and read the letter. This isn’t about corporate welfare.
Great letter. Puts the blame on the new CEO for not standing up for them. They should get the guy from Strassbourg who took on the PM this morning — ‘You have spent all we have.’
Such a pig-pile in Congress; disgusting.
Just another case of the Dems and the MSM trying to rouse the rabble against Capitalism. Unfortunately, they've done a pretty good job.
I'm glad this man was willing to risk the ire of the MSM and the Democrats to give folks an insight into what was happening behind the scenes.
[...”Like you, I was asked to work for an annual
salary of $1, and I agreed out of a sense of duty
to the company and to the public officials who have
come to its aid.”...]
[...”Like you, I was asked to work for an annual
salary of $1, and I agreed out of a sense of duty
to the company and to the public officials who have
come to its aid.”...]
$
$oon!
So, an executive from a failed company should get a taxpayer funded bonus?
That is socialism...
Good for this guy, for having the nerve to stand up to the BS. The media and the idiots in Congress have used these men in such a way that we should all be worried.
If the country is willing to allow these tax payers to be railroaded, who is next?
When it comes to personal freedom, no one gets pissed off until they are targeted.
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