From The New York Times: The following is a letter sent on Tuesday by Jake
DeSantis, an executive vice president of the American International Groupâ€™s
financial products unit, to Edward M. Liddy, the chief executive of
DEAR Mr. Liddy,
It is with deep regret that I submit my notice of resignation from A.I.G.
Financial Products. I hope you take the time to read this entire letter. Before
describing the details of my decision, I want to offer some context:
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 â€” or responsible for â€” 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 â€” during which A.I.G.
reassured us many times we would be rewarded in March 2009 â€” 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.
To read the whole letter, click here.
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