AIG Bonus Must Read
Do you hate the AIG bonuses? Sure, join the crowd.
But, there are two sides to every story and this one is a must read if you want to get the full perspective on the AIG bonuses.
“Dear AIG, I Quit”
An op-ed to the New York Times on March 23, 2009. Written by Jake DeSantis, Exec VP of AIG’s financial products unit. Please read the entire article here:
AIG I QUIT. New York Times 3/23/09
Excerpts:
After 12 months of hard work dismantling the company — during which A.I.G. reassured us many times we would be rewarded in March 2009 — we in the financial products unit have been betrayed by A.I.G. and are being unfairly persecuted by elected officials.
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.
None of us should be cheated of our payments any more than a plumber should be cheated after he has fixed the pipes but a careless electrician causes a fire that burns down the house.
This guy worked the last year for one dollar, and was promised the bonus. The President, Secretary of the Treasury and many Congressional leaders all knew these bonuses were going to be paid in March.
This country was built on laws, not mob rule. Until now.