Legal Commentary

Mr. DeSantis Quits

By Big Tent Democrat

In a much discussed public letter to AIG, a Mr. Jake DeSantis has resigned from AIG. I do not know the particulars of Mr. DeSantis' situation, but I am familiar with the fact that AIG was effectively bankrupt in September 2008. To wit, his hard work to that date would have gone uncompensated because of the failure of the company he worked for. Mr. DeSantis is claiming he would have moved on to greener pastures absent assurances from Ed Liddy, the acting AIG CEO:

. . . A.I.G. management assured us on three occasions during that month that the company would “live up to its commitment” to honor the contract guarantees. . . At no time during the past six months that you have been leading A.I.G. did you ask us to revise, renegotiate or break these contracts — until several hours before your appearance last week before Congress. . . . We have worked 12 long months under these contracts and now deserve to be paid as promised. . . .

[MORE . . .]

. . . Many of the employees have, in the past six months, turned down job offers from more stable employers, based on A.I.G.’s assurances that the contracts would be honored. They are now angry about having been misled by A.I.G.’s promises and are not inclined to return the money as a favor to you.

It seems to me Mr. DeSantis' grievance is with Liddy, not anyone else. It was Liddy that made representations to him and other AIG employees. Mr. DeSantis really can have no grievance with the federal government -- after all, if it were not for the government bailout of AIG, Mr. DeSantis would have no bonus to give to his favorite charities.

No one likes to be demonized of course, and in that sense, Mr. DeSantis' reaction is understandable. But I think he should reconsider whether his emotional response was one he would have wanted turned into a public letter published in the New York Times. It smacks of an attitude of entitlement that ill befits someone whose bonus came from the public dole.

Speaking for me only

Full post as published by TalkLeft on March 25, 2009 (boomark / email).