Jake DeSantis: A Defense of AIG Bonuses

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I have a solution, let's give Rob a Bloomberg, a phone and a trading spot AIG. Then let him start to unwind some of AIG's positions. Then pay him a buck a year for his troubles. Getter done...

Laance of TX 12:27PM March 25, 2009

Mr. DeSantis:

Thank you for your resignation. Your pitiful rant misses the point. AIG has gone bust, and the toxic bonuses are from the pockets of everyday citizens. If AIG had gone into receivership, you would have been laid off many months ago. Take this opportunity to spend some time with people looking for jobs, the homeless, school teachers who have lost their pensions, kids that don't always get enough to eat, returning veterans. Get outside your bubble, and give thanks that you had a good ride for many years. God bless.

Your boss -- American Taxpayer

LA Roth of CA 12:16PM March 25, 2009

As a VP of AIG I think that you should be better at maths. You are not working for $1.

Your taxpayer bonus would be better spent helping homless people or the unemployed in Detroit.

If you are looking for a new job I heard about an administrator job in Cincinatti for $20,000 without a bonus but you will have to stand in line to submit your application.

John of CA 12:13PM March 25, 2009

Government should be of laws that are not retroactive.

Steve of NC 12:07PM March 25, 2009

Awesome response. You summed up my feelings on the subject nicely.

I'd just like to add..

"None of us should be cheated of our payments any more than a plumber should be cheated after he has fixed the pipes but a careless electrician causes a fire that burns down the house."

If the plumber or electrician destroyed the house he was working on, you better believe he wouldn't be getting paid a single cent.

See ya, Jake DeSantis. Don't let the door hit you on your way out.. or do let it hit you, I really couldn't care either way as long as you're gone.

Mikee of UT 12:05PM March 25, 2009

Your resignation letter was beautifully written and very tactful. Unfortunately people that wish for big government and unconstitutional actions will suffer the consequence of:

- people not wishing to start businesses due to tough tax rules

- a destruction of the entrepreneurial spirit

- money quickly moving overseas in business ventures, etc

Welcome to the socialist society of America.

Stark Baddin of IN 12:04PM March 25, 2009

Rob, you obviously have no clue! Nor can you read very well...I think the gentleman stated that he had turned down a several job offers out of duty to AIG. Rob, at least you have managed your compensation expectations!

Lance of TX 11:58AM March 25, 2009

Interesting open letter to AIG's interim CEO.

Mr DeSantis isn't hurting financially - he admits as much - but many others have been shoved out the door and I don't limit my comments to this present crisis alone; in general, many good professionals, for untold number of reasons, have either been let go, worse yet, have been smoked out the doors of companies they served not only honorably but with salient talents.

Mr Santis's after taxes bonus is still a huge number and here is rub: Do people deserve such enormous salaries and and enormous bonunes? Yes, Mr. De Santis is an IMT grad but the others I am referring to are alo grads of valued, higher education institutions.

Yes, Mr. DeSantis is not the person I feel sorry for. He was overpaid to beging with and his magnanimous 'gift' of his bonus has the smack of hubris when all is considered.

Petros of 11:56AM March 25, 2009

Dear Mr. DeSantis,

As a taxpayer, and a defacto part owner of your failed employer, I would like to take this opportunity to gladly accept your resignation.

You, and those like you, apparently are oblivious to the fact that your employer is crumbling, and is presently only propped up by the U.S. Government. Had the Government permitted AIG to become insolvent, you would have certainly been facing a substantial likelihood of having the bonus contract nullified by a bankruptcy judge. And, you likely would have been looking elsewhere for employment anyway while the failing company reorganized.

In other words, you only had the opportunity to continue in your present position because of the American taxpayers--the same ones that you so roundly criticize in your resignation letter.

While you claim to have some sympathy for those in need, you clearly don't understand them. If you did, you would grasp why your receipt of a nearly $750,000 "bonus" from what has essentially become a ward of the federal government is so offensive to taxpayers in a country where the median family income is approximately $48,000. If "guilt" is an insufficient motivator to return the grossly unwarranted bonus, perhaps you should give shame a try.

Like you, I was raised by a schoolteacher and a blue collar worker. Like you, I worked hard and got through schools on scholarships. Like you, I have put in more than my share of 10/12/14 hour (and more) work days. Unlike you, I would never dream of taking an almost $750,000 bonus from taxpayer dollars, when that money could be used to help the unemployed, the homeless, or the hungry. Finally, unlike you, I would never be so pretentious to claim to be betrayed or victimized by the legitimate public outrage over this situation.

Please clean out your desk. Security will take your key, and will show you to the door.

Sincerely,

The Management.

Rob of IA 11:43AM March 25, 2009

This is why I supported AIG living up to their end of the bargain. Public opinion can be so easilly swayed that it should never be used to void contracts, pass punitive legislation, or usurp the Constitution

Chris of NC 11:27AM March 25, 2009

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