This New England

The narcissism of an ex-AIG'er; Liddy a dollar-a-year man

9:12 AM Thu, Mar 26, 2009 |
By Robert Whitcomb    Email this author |   Email this entry


The sense of entitlement and the arrogance of some people in the financial-services sector are impressive. Consider the March 25 column by Jake DeSantis on The New York Times's op-ed page entitled "Dear A.I.G., I Quit!''

This pompous, self-absorbed piece seems to try to get across the impression that what Mr. DeSantis was doing in AIG'S Financial Products unit (based in Wilton, Conn.) was akin to the role of a great inventor of a humanity-changing device or a physician working to help the afflicted, instead of Mr. DeSantis's mission of pure self-enrichment.


What is also vaguely revolting is Mr. DeSantis's implication that only he and his colleagues at this company, which has wreaked such havoc, have worked long, hard hours.

Too many people in the Wall Street-Washington power nexus are utterly divorced from the mass of the American people.

By the way, as an e-mailer has noted, Edward Liddy, the CEO of AIG (which I'm sure will soon change its name) is doing this gig for a salary, anyway, of $1 a year, and I admire him for that.

It's not a pleasant way to spend some of his retirement time. He has kept his cool, his courtesy and his dignity, which is impressive under the circumstances.

Meanwhile, former AIG CEO Maurice Greenberg's lawsuit against AIG for securities fraud continues...

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Comments

jeff blanchard said:

just plain revolting



Narcissistic indeed. The right thing to do would have been to keep a low profile, given the outrage out there. But no. Splash your high opinion of yourself all over the page, for all to see. Revolting. an interesting choice of words for this kind of behavior ( See " Revolution, French)



zman07 said:

So DeSantis raved a little bit? His point was that not everybody at AIG was responsible for what happened and that a blanket of guilt was thrown over innocent and guilty alike.

One thing that was conveniently left out in the ProJo editorial diatribe was the fact that he was working for $1 a year and that he ended up donating all his bonus money to charity. He essentially worked free for a year on promises that were betrayed. Bob, when was the last time you worked without a salary?

I don't know about the rest of you, but I'd be pretty pissed off working for no salary and then get blamed for somebody elses mismanagement, not just from Congress, but the whole country.

Last time I checked, this is capitalistic America. The bonuses were promised last March in signed contracts before the meltdown. If I could wangle a salary like that, I would as would all of you out there. Those of you that say they wouldn't are liars.



Zzzzzzzzzzman07.

" I would as would all of you out there. "

Speaking of narcissism. You know what I ( we all ) would do? How do you know that? And who did you pick for the Final Four?




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