Free Republic

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...

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...

We have met the enemy and it's the people who represent us. The blowhards and buffoons in Congress proved again Wednesday they are worse than useless. Ronald Reagan's famous line that "government is the problem" kept going through my head as the AIG hearing demonstrated the dangers of Washington's role in the economy. The very people, Republicans and Democrats alike, who can't balance America's budget now claim the expertise to run banks, insurance companies and automakers. If we let them, we're dumber than they are. What was supposed to be a legal lynching of AIG boss Edward Liddy over...

The head of financially troubled American International Group, the insurance firm that most benefited from the federal bailout while still paying hefty bonuses to executives, will testify before U.S. Rep. Paul E. Kanjorski’s congressional panel Wednesday. Chief Executive Officer Edward M. Liddy is sure to field questions from members of the Capital Markets, Insurance and Government-Sponsored Enterprises Subcommittee about millions of dollars in bonuses. Mr. Kanjorski, D-11, of Nanticoke, chairman of the subcommittee, said Monday he warned Mr. Liddy against paying the bonuses in a conversation in January. Mr. Kanjorski said bonuses could anger members of Congress who might eventually...