The Mindset of an AIG executive

Business Week by Diane Brady | Mar. 25, 2009 (News Analysis)

(Blog Post) A few things struck me in the “resignation letter” of Jake DeSantis, an executive vice president of the American International Group’s financial products unit. (People don’t normally forward their letters of resignation to The New York Times)

First, of course, is his justified sense of outrage at having been abandoned by his boss, AIG chief Ed Liddy, before Congress and at having his bonus essentially taken away. “Like you, I was asked ... Full Story »

Posted by Michael Bugeja

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3.3

by Fabrice Florin - Mar. 25, 2009

Informative analysis of a resignation letter from former A.I.G. exec VP Jake DeSantis, recently sent to the New York Times. The author highlights some key phrases from that letter, and offers reasonable observations based on factual evidence and common sense. My only concern is that some of the comments might belong more in an opinion piece than a news analysis.

I agree with the author's assessment that Mr. DeSantis's letter reflects a mindset that is representative of the financial industry. That mindset has done serious damage to our economy, by validating some of the excesses that caused the recent meltdown. I hope that over time, financial execs can recalibrate their expectations and sense of entitlement, to bring back down to earth, on a more equal footing with the rest of us common mortals.

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4.0

by Michael Bugeja - Mar. 25, 2009

This blog post delivers on its title, explicating with reason and common sense the mindset of an AIG executive. In addition to the author's analysis, you get to read the resignation letter forwarded to the New York Times by Jake DeSantis, an executive vice president of the American International Group’s financial products unit.

The justification that DeSantis utilizes in his resignation letter is insulting to those who realize he also had the ethical obligation to put a halt to bad business practices.

Michael posted this story.

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