Jake DeSantis: A Defense of AIG Bonuses

This further reinforces that our goveernment knows nothing about business and plays to the ignorant (most of which have put thier comments below).

Jake and others have provided great value to AIG and our country by minimizing the mistakes of others. Let's chase these good people away and see what happens. If his skills are able to save $100 million, should he earn $1 million. YES! If a plumber could accomplish the same savings, pay him/her.

Free enterprise is what has enabled our country to be what it is today - don't turn to socialism now! The media will take us there and we will be very sorry.

Ed of PA 11:48AM March 29, 2009

Ghengis of PA,

You have clarified my point, thanks! Almost everything you say is not only untrue, but nearly opposite. How charming.

>DeSantis is a petulant whiner. He quit on principle. That would be the height of luxury.

His letter contained primarily statements of fact. Which you seem to have ignored.

>Most workers can't afford to quit on principle. A lot of them live from paycheck to

>paycheck. If they don't like the boss, they continue working anyway. If they get

>physically sick at work, they continue working anyway. If they don't like the pay, if

>the pay stayed the same, if the pay went down, they continue working anyway. They have

>to think about whether or not they can afford to quit for any reason.

At least most workers receive compensation paycheck to paycheck. If you read the letter, you would be aware that DeSantis was receiving no paycheck at all on a regular basis. More irrelevant distortions on your part. Most people who don't receive a paycheck for months on end don't stay on the job. Would you?

>10, 11, 12 hour days. That's unusual?

Without pay, yes.

>DeSantis would be getting nothing if the taxpayer had not bailed out AIG. The bailout

>was supposed to relieve the credit crunch and help people. Instead it went to somebody

>who has been milking his company for years.

Actually, given that DeSantis was not involved in the destructive divisions of AIG, DeSantis was performing a public service (with potential risk of receiving NO PAY for months of work) to sell off assets as diligently as possible to assist the public to the best of his ability. In truth, *you* (as a citizen) have benefited by 'milking' DeSantis of hours of unpaid labor to sell assets on your behalf (as a taxpayer and recipient of government benefits). Your character assassination is, again, entirely without basis and pulled from your dark stew of prejudice. You forgot to think about what is actually True.

>Give the money away and take a tax deduction so the rest of us are left to pay what he

>doesn't pay? That's twice he steals from the tax-payer. Who's he think he is? Robin Hood?

Again you completely invert the situation. He told us he will give it all away either directly to the citizenry or indirectly to the government via taxation (both potentially to your benefit). He tells us he does not intend to benefit via deduction. YOU have stolen the labor of DeSantis (as a citizen) and have attempted to harm his integrity. If only you would be so honest as to publicly admit to your failings.

Joe of CA 5:31PM March 28, 2009

Hopefully he will get to the other 39,999 people who pay 1/2 the taxes of the city of New York,

And quickly please.

Ragnar 9:10AM March 28, 2009

It's all about honesty folks. Nothing is more important to the healing process than getting to the Truth and following the rule of Law. Yes, laws will need to be created/changed and regulations will have to be imposed to prevent future highly risky, over-leveraged, contacts from risking the economic security of our country. But, we must make sure to remain true to ourselves and our country. I don't personally know the former AIG employee Jake DeSantis. Nor do I know what drove him to pursue a career in corporate finance. But, I do believe that great benefits have been bestowed upon humanity by the corporate model and private ownership of Capital in general. I can only assume Mr. DeSantis conducts himself as an honest and fair citizen of this great nation. Sadly, I cannot say the same for many self interested politicians who, according to their words and actions, would trample upon the dignity of their fellow citizens with a disregard that should put them to shame. Our elected officials have taken an oath that places them under even higher moral responsibility than those represented. I only wish those in Congress, and others in positions of power, could find a bit of humility and give Truth the force it deserves.

The point is there was an agreement (contract) with certain AIG employees that guaranteed payment for work over some period (12 months?). First, according to the letter, Edward Liddy never brought up the issue of re-negotiation of the contract terms until days before the hearing- months after receiving government assistance. Also, according to the facts laid before me, not only were the bonus contracts not disallowed in the terms of the stimulus payments (via gov), but they may have been explicitly allowed! Now, what basis does anyone have to place blame of any sort upon an AIG employee who was working diligently to do all within his powers to sell AIG assets to carry out the dismantling of the company (to the obvious benefit of the tax payers)? The attorney general should be brought before the congress (or directly questioned by the public) to explain why he has placed moral blame upon a group of citizens (AIG employees) who are carrying out the citizens work (dismantlement) according to the law. To me, this stands in direct conflict to the duties of a legal representative of the state (as attorney).

Joe of CA 1:49AM March 28, 2009