Dear A.I.G., I Quit!

March 25, 2009 at 9:33 am  ·  Category: Business Culture and Current Events

The most read article on nytimes.com today is a resignation letter from Jake DeSantis, at AIG’s Financial Products Unit, to Ed Liddy, “Dear A.I.G., I Quit!” 

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.

It’s nice to hear the other side after all the bloviating by Congress and public officials.  It’s a complicated issue.  AIG needs good people, and the people who have inside knowledge of the business, in order to wind it down efficiently.  They need guys like Jake DeSantis.  All of the fear mongering is going to drive these guys away.  At the same time, the company is in financial dire straights and can’t pay its employees exorbitant amounts.  There’s got to be some middle ground……

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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