AIG Exec Resignation Letter Published by the NY Times

The New York Times has published AIG executive Jake DeSantis's resignation letter to AIG.

DeSantis was one of the AIG executives who received one of the bonuses that the mindless mob is now screaming about. However, DeSantis's resignation letter makes important facts clear that the clamoring airheads don't know or even care about. Some of those facts are as follows:

1. Neither DeSantis nor any of the other execs receiving the bonuses had anything to do with AIG's insolvency, which was the result of the credit-default swaps business. They were members of the Financial Products Division, which was profitable.

2. DeSantis reports working 10 to 14 hours a day while receiving a token salary of $1 per year duing the financial crisis; that he and other execs working long hours away from their families were promised those bonuses as a result of their hard work; and now they have been thrown under the bus by the leaders of AIG. DeSantis writes:

The profitability of the businesses with which I was associated clearly
supported my compensation. I never received any pay resulting from the credit
default swaps that are now losing so much money. I did, however, like many
others here, lose a significant portion of my life savings in the form of
deferred compensation invested in the capital of A.I.G.-F.P. because of those
losses. In this way I have personally suffered from this controversial activity
— directly as well as indirectly with the rest of the taxpayers.

DeSantis's comments and the facts he presents makes it clear how shallow and irrational the reaction of so many members of the press and public. According to many, these execs were supposed to work long hours for many months for nothing, even though their lines of business were profitable and they had nothing to do with that portion of the business that was hemorrhaging money.

Now don't you libbies feel like complete morons? You should.

Powerline has a great article entitled When They Came For AIG. Read it.