AIG Guy Quits. World Goes On...

The New York Times printed a resignation letter from a guy at AIG, one Jake DeSantis, who worked in the Financial Products Division, heading units in "equities and commodities," that earned the company $100 million in profits.

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 profitability of the businesses with which I was associated clearly supported my compensation. I never received any pay resulting from the credit default swaps that are now losing so much money. I did, however, like many others here, lose a significant portion of my life savings in the form of deferred compensation invested in the capital of A.I.G.-F.P. because of those losses. In this way I have personally suffered from this controversial activity — directly as well as indirectly with the rest of the taxpayers.

Poor baby... Let down by Suits and Politicians, imagine that. At least he didn't claim to be working when he said he spent ten, rwelve, fourteen hours away from his family. Excuse me? What do you think the rest of us do out here? We're all pretty much working those kind of hours and I guarantee we are making no where near that kind of money. My guess is that he still has well into seven figures in his portfolio.

I am disappointed and frustrated over your lack of support for us. I and many others in the unit feel betrayed that you failed to stand up for us in the face of untrue and unfair accusations from certain members of Congress last Wednesday and from the press over our retention payments, and that you didn’t defend us against the baseless and reckless comments made by the attorneys general of New York and Connecticut.

You expected your management to back you up? What planet have you been living on? Talk about living in a privileged bubble!

So what am I to do? There’s no easy answer. I know that because of hard work I have benefited more than most during the economic boom and have saved enough that my family is unlikely to suffer devastating losses during the current bust. Some might argue that members of my profession have been overpaid, and I wouldn’t disagree.

No shit Sherlock! You don't think all those hefty paydays aren't directly related to the mess we're in? You admit, you're set, you have a lot of money saved up. It wasn't from "hard work" that got you that money. It's from skimming the profits that working people deserved. Most of us aren't as fortunate, and WE'RE NOT TO BLAME EITHER!

What a whiner!!! Don't let the door hit you in the ass on the way out, Mr. DeSantis.

And if people in your "profession" are feeling fear, WELL THEY SHOULD! You should get down on your knees at night and thank God that we aren't socialists or communists or whatever the right wing and other Suits like yourself want to call us. If we were, you wouldn't be afraid. You'd be dead.

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