Sunday, March 29, 2009

Pity, Jake DeSantis

A lot of people linking to Matt Taibbi's scathing response to the woebegone resignation letter by the AIG exec who felt so put upon for having to return his three-quarter of a million dollar bonus. But I'm going to post it here anyway to archive the link and I'll at least give you different excerpts:
Also, there's this: let's just say, Jake, that you're telling the truth, that you don't know anything about this toxic portfolio. If that's the case, then why the fuck does anyone need to retain you at an exorbitant salary to help unwind that very portfolio? If these transactions aren't and never were your expertise, then where the hell is your value here? [...]

I mean, half of Wall Street is unemployed right now. There are plenty of unemployed traders out there whose resumes don't include such entries as "Worked for years at small unit of AIG that helped destroy the universe; throughout that time was completely ignorant of burgeoning global disaster unfolding 5 feet from my desk." [...]

The idea that other companies would be so eager to pass over the seas of truly innocent available people in order to scoop up some still-employed veteran of AIGFP -- and that they would be so enthusiastic in their pursuit of said AIGFP employees that AIG would need to pay those AIGFP folks million-plus retention bonuses to get them to stay -- is so ludicrous it almost defies comment.
Read it all. Really. It was so good, I read it twice.

[More posts daily at The Detroit News]

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Blogger danps said...

Clearly the proper response to such outrages is to go after unions.

12:22:00 PM  
Blogger Libby Spencer said...

You nailed that one Dan. Think I'll make it quote of the day.

12:36:00 PM  
Blogger danps said...

Thanks Libby!

2:58:00 PM  

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