AIG Employee Tells Liddy: You Betrayed Us

VP's resignation letter rips cowardly CEO, grandstanding pols
By Jason Farago,  Newser Staff
Posted Mar 25, 2009 9:27 AM CDT
AIG Employee Tells Liddy: You Betrayed Us
AIG Chairman Edward Liddy testifies on Capitol Hill, March 18, 2009.    (AP Photo)

Though he says he’s blameless for the mess that brought down AIG, and worked 14-hour days at $1 a year to help dismantle the insurer, executive Jake DeSantis feels “betrayed” by CEO Edward Liddy—and lets him know in a resignation letter published by the New York Times. He rips elected officials for “persecution,” and Liddy for not standing up to them, particularly over bonuses.

“We have worked 12 long months under these contracts and now deserve to be paid as promised,” DeSantis writes, noting that many at AIG turned down more lucrative offers at other firms. Liddy failed to stand up to “untrue and unfair accusations from certain members of Congress … and from the press.” As for DeSantis, he got a bonus of $742,006.40 after taxes—which he is now donating to charities. (More AIG stories.)

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