Goodbye, cruel commodities business

Op-Ed Contributor - Dear A.I.G., I Quit! - NYTimes.com:

"It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products. I hope you take the time to read this entire letter. Before describing the details of my decision, I want to offer some context:

I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P. I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G. Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage."

I suspect Mr. Jake DeSantis made more money than he would have otherwise because of the cash thrown off from the CDS business at AIG.

But if you read the whole letter, you'll see that a promise to reward that dude for hanging around was broken. It's kind of like a big insurance company issuing credit insurance with no intention to pay it. What are the odds of something like that happening?

I'd like to feel sorry for Jake DeSantis. But it's very hard to do!
______________________________________
Read Nano-Plasm - you know you want to.

© 2005-2009 Stephen Clarke-Willson, Ph.D. - All Rights Reserved.