Last(?) word on AIG bonuses
on Mar 26 in Financial Market, Politics tagged by Trevor HicksI have to link to the resignation letter from Jake DeSantis that was printed in the New York Times. DeSantis was an executive vice president of the financial products group at AIG. I don’t know the guy of course and I can’t vouch for how accurate his story is, he portrays himself as being a guy who just showed up to work every day and did his best to run and salvage AIG and now finds himself vilified in the press for having the temerity to expect to be paid what he was promised for doing the work. This matches my mental image of the typical bonus recipient. We the public, as shareholders in this firm, have effectively destroyed any chance we had of earning a return on our investment by reacting so violently to the thought of paying our employees what they were promised.
I don’t think I’ll have more to say on this topic, though Congress has a way of drawing me back in sometimes.
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[...] in March defending the work that he and others had done to clean up the mess at AIG. At the time I thought that this confirmed my intuition that most, or really all the people there were genuinely doing [...]