Wednesday, March 25, 2009
Betrayed by AIG: Exec VP Resigns, Publicly Skewers CEO Liddy
Outrage over the AIG bonuses took a new turn Wednesday as Jake DeSantis, an executive VP in AIG's notorious financial products (AIGFP) unit, expressed his outrage over how AIG employees have been treated, most notably by AIG CEO Edward Liddy.
"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," DeSantis wrote in a resignation letter to Liddy published in The New York Times.
The bulk of DeSantis ire is directed at Liddy, whom the executive charges caved to political pressure as the rhetoric over the AIG bonuses reached a fever pitch last week. "At no time during the past six months that you have been leading A.I.G. did you ask us to revise, renegotiate or break these contracts - until several hours before your appearance last week before Congress," DeSantis writes...
Yahoo! Finance: Betrayed by AIG: Exec VP Resigns, Publicly Skewers CEO Liddy
"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," DeSantis wrote in a resignation letter to Liddy published in The New York Times.
The bulk of DeSantis ire is directed at Liddy, whom the executive charges caved to political pressure as the rhetoric over the AIG bonuses reached a fever pitch last week. "At no time during the past six months that you have been leading A.I.G. did you ask us to revise, renegotiate or break these contracts - until several hours before your appearance last week before Congress," DeSantis writes...
Yahoo! Finance: Betrayed by AIG: Exec VP Resigns, Publicly Skewers CEO Liddy
Permalink posted by markw @ 2:01 PM 
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