Bailing on AIG


Executive Vice-President of American International Group’s financial products division, Jake DeSantis sent his letter of resignation to CEO Edward Liddy on Tuesday. Init he deplores the politicians who have outright condemned the employees at AIG, saying that those responsible for the mess quickly found other jobs and escaped the current dilemma. DeSantis feels as though current AIG employees should be supported rather than victimised, as they have been in the media the past weeks. The ones who stayed are committed to helping the company; DeSantis himself was working for a $1 annual salary, with the expectancy of a bonus.

The AIG bonus debacle has been quite nerve-racking for politicians, AIG executives, and American citizens. Reading this letter will allow citizens to see through politicians’ and the media’s attacks on all AIG executives. Not every employee is responsible for this crisis, and most of those still remaining are trying to re-stabilize the company. Are these the people we want to be victimising? Jake DeSantis appears to be a very intelligent and successful employee. He has also been with the company for over 10 years, so it’s quite a loss for the company. Whether you agree with the bonuses or not, we need not demonise all executives.