Posted on 03/25/2009 8:34:35 AM PDT by JApost
A note of caution to those who would try to do the right thing in this political climate. This is just a snippet of the letter.
Please go to the link and read the whole thing. Please. Liddy's betrayal of his employees before Congress is detailed in the letter, but I didn't clip that part out.
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.
I take this action after 11 years of dedicated, honorable service to A.I.G. I can no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so. 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. Having now been let down by both, I can no longer justify spending 10, 12, 14 hours a day away from my family for the benefit of those who have let me down.
--------------------------------- The only real motivation that anyone at A.I.G.-F.P. now has is fear. Mr. Cuomo has threatened to “name and shame,” and his counterpart in Connecticut, Richard Blumenthal, has made similar threats — even though attorneys general are supposed to stand for due process, to conduct trials in courts and not the press.
ACORN has also contributed to this monumental mistake. They have been busing Hartford scumbags to AIG execs' Fairfield county homes to gawk at their finery and 'protest' them. Intimidate them, in other words.
Isn't that nice? No-job-having slackers calling the producers of wealth upon which they subsist, parasites! Pot, meet kettle....
What possible incentive would one have to stick around and fix the problem?
Atlas is Shrugging-—this might be just one, but I believe it is the start of a trickle, which will lead to a tsunami.
Keep punishing the producers and innovaters in this country, and you will have instant deplorable conditions which will not lead to a turn around of the economy which the Democraps are destroying.
Bunker time is just around the corner. The slick talking Kenyan and his partners in crime will not be able to stop this mess which they created or greatly contributed to.
This was the predictable result of Congress’ witch hunt and demagoguery of those at AIG. I would expect AIG’s end to be precipitous and imminent, resulting in substantially diminished returns on the taxpayers’ investment.
Gone Galt.
Who is John Galt?
Find a victim, feed the victim to the crowd, find another victim.
Barney Frank is gay.
Many of the ING execs are Jewish.
Nobody in the MSM will ever make that connection -—
Even though the Nazi Brown-shirts were ALSO gay, and the Nazi's picked on the Jewish bankers first.
OMG. . .the ONE cannot get enough air-time. He is 'on' again. . .barf/barf/barf~!
We need some “who is John Galt” stickers to put up..
They’ll be after the White Jews soon enough.
I would encourage everyone to go to the nytimes.com link, not just so as to read the entire letter, but also to drive up the hit count on the letter. Let the Old Grey Whore know she did the right thing—this time—by printing the letter, even if it was only in the NY edition.
I have been disgusted from the beginning at the way our citizens went after these people with their lynch mob mentality. It was pathetic.
It is not Obama or congress bringing this country down, it is it’s own miserable citizens. Whine, whine, whine, it’s not fair, you owe me.
I am not rich. I have struggled with my head just above water, and frankly, it is because of MY decisions, nobody else’s. Do I envy some people? Of course I do. Instead of whining about it, I work harder. It took me learning some things the hard way as well as maturity to come to be comfortable looking back and seeing my mistakes. However, I do not begrudge someone earning their money. Nor do I look down on a person working as a janitor or fast food employee, they are at least working. Are there cheats and con artists? Yes, but most are not.
Again, with the instant news, we get pertinent facts after the fact.
The only time Libby showed something like a spine in the show trial last week was when he predicted this would happen. He stated that the bonuses would be returned with letters of resignation.
These people who were running the financial institutions, whatever other faults they may have, are not stupid. Not when it comes to their own money. These people are going to leave, and if you think our financial industry (one of the few things we were once globally competitive in) is in a mess now, just wait until the smart ones leave and the bureaucrats take over.
Socialism = rationing. This is the first step to rationing income and credit. Other items that will be effectively rationed:
Electricity, through cap & trade
Transportation, through restrictions on domestic production
Health Care, through nationalization
Education, through preferential college admissions, financial aid, and restricted tax deductions
Housing, through lending and tax deduction policies
I don’t know how they are going to ration food, yet, but I’m sure they are working on it.
from the letter:
None of us should be cheated of our payments any more than a plumber should be cheated after he has fixed the pipes but a careless electrician causes a fire that burns down the house.
Actually, to decent folks, these people ARE “victims” but to the Statists, these people are “villians” -—
***I don’t know how they are going to ration food, yet, but I’m sure they are working on it.***
They’ll take a tip from the Brits where they are discussing rationing of food because they claim it takes too much water to produce food.
Thanks for posting this comparison to Crystal Night. We seem to be hurtling down the road to a Fascist Controlled Country like Germany did in the 1930’s.
“Crystal Night in Nazi Germany started like this:
Find a victim, feed the victim to the crowd, find another victim.”
Somehow I think that the “envy” you claim to have is actually “admiration” of a sort. You see someone with more than you have and you want to achieve that level of financial success. That’s a good thing. I’m the same way. Envy tends to be more destructive, though, and that’s not the FReeper way.
But I may be mis-reading you. Feel free to correct me if I’ve got you wrong.
I was actually referring to something a business owning German once said to his associates after the Nazis had siezed power and begun repressing the German Jews.
He meant that they would be coming after him after they couldn’t use the Jews anymore. 0’s entire playbook has been seen before, and now it is playing out in America.
I am in the financial services business.
I do business with AIG subsidiaries, all good people.
One AIG office sign was smashed by vandals not long ago.
It reminded me of Nazi Germany, as soon as I saw it.
Rationing water as a means of rationing food? It might work as part of a bigger plan. Water rationing will limit fruit and vegetable production from California, for example. But it won’t do much to grain production in the midwest.
They can ration food through rationing grain production as part of the transportation rationing scheme. They will mandate more ethanol use. This will drive up feed grain prices, and force us to limit meat production and therefore meat consumption. We can all have our bowl of soy and wheat gruel. One bowl per day.
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