Posted by Jonathan Adler:
"Dear AIG, I Quit":
http://volokh.com/archives/archive_2009_03_22-2009_03_28.shtml#1237989553
The executive vice president of AIG's financial services unit quits,
and his [1]resignation letter is featured in the NYT.
I am proud of everything I have done for the commodity and equity
divisions of A.I.G.-F.P. I was in no way involved in � or
responsible for � the credit default swap transactions that have
hamstrung A.I.G. Nor were more than a handful of the 400 current
employees of A.I.G.-F.P. Most of those responsible have left the
company and have conspicuously escaped the public outrage.
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. In response to
this, I will now leave the company and donate my entire post-tax
retention payment to those suffering from the global economic
downturn. My intent is to keep none of the money myself.
Given the choice, I'd rather have my taxes pay this guy's bonus than
the salaries of our so-called political leaders.
References
1. http://www.nytimes.com/2009/03/25/opinion/25desantis.html
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