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March 25, 2009

AIG Resignation Letter

A note of caution to those who would try to do the right thing in this political climate. This is just a snippet of the letter.

Please go to the link and read the whole thing. Please. Liddy's betrayal of his employees before Congress is detailed in the letter, but I didn't clip that part out.

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 — 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.

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 only real motivation that anyone at A.I.G.-F.P. now has is fear. Mr. Cuomo has threatened to “name and shame,” and his counterpart in Connecticut, Richard Blumenthal, has made similar threats — even though attorneys general are supposed to stand for due process, to conduct trials in courts and not the press.

ACORN has also contributed to this monumental mistake. They have been busing Hartford scumbags to AIG execs' Fairfield county homes to gawk at their finery and 'protest' them. Intimidate them, in other words.

Isn't that nice? No-job-having slackers calling the producers of wealth upon which they subsist, parasites! Pot, meet kettle....

What possible incentive would one have to stick around and fix the problem?

It's a fucking travesty.


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posted by LauraW. at 09:03 AM

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