AIG VP Jake DeSantis Publicly Quits

Jake DeSantis writes: "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:"

Few paragraphs later DeSantis expresses the source of his resignation.

"But you also are aware that most of the employees of your financial products unit had nothing to do with the large losses. And I am disappointed and frustrated over your lack of support for us. I and many others in the unit feel betrayed that you failed to stand up for us in the face of untrue and unfair accusations from certain members of Congress last Wednesday and from the press over our retention payments, and that you didn’t defend us against the baseless and reckless comments made by the attorneys general of New York and Connecticut."

The letter is worth to read. It's revealing.

Reading some online real time opinions I found this one interesting. "President Obama should offer AIG.Jake DeSantis the position of overseeing the federal bailout - as of yesterday, no one else wants the job."

We will not comment on the essence of the letter of Jake DeSantis and leave our readers to make their own conclusions, but only will say that this is a classic example of AIG executive who quits in style.

AIG Bonuses have created a strong public backlash when the company decided to use taxpayer money to pay multimillion dollar retention bonuses every to those executives who were not with AIG anymore.