27 March 2009

Rich AIG Exec Lectures Us On Sacrifice or Something

Jake Desantis, an AIG VP, publicly resigns and gripes about the unfair system which cost him his beefy bonus. From NYT:

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.
Seeing how this corporation would've had to file Chapter 11 but was saved by the cronies in DC (thereby saving his precious "compensation" package), I'm with Gawker when they simply say "Shut Up, AIG".