“So, basically everything collapsed due to a lack of oversight of one division. I’m sorry, but everyone – every executive above that division should have been aware of what was going on. Mr. DeSantis is far too willing to absolve himself and Mr. Liddy of any responsibility: “You are as blameless for these credit default swap losses as I am.” No way – if your co-workers or underlings are dismantling the company, you best be aware of it.
Another comment:
“Mr. De Santis,
You forgot to mention a little detail: AIG didn’t pay your $700,000 bonus. We taxpayers did. You may feel relieved and honorable in donating that money to charity, but that’s my money you’re giving away, and that is one more transaction of yours (and your company’s) that I did not approve. In fact, I’d rather have my money going to save the US economy than to some other cause of your choosing.”
Secondly, why does Mr. DeSantis believe that his company, on the brink of collapse, is healthy enough to pay ANYONE at all a bonus? “The profitability of the businesses with which I was associated clearly supported my compensation.” HA! No matter how profitible the “businesses with which [he] was associated” were, he was overcompensated. Everyone on Wall Street was/is. I mean, why were these contracts even in existence? A bonus is something special – not something routine. You can’t predict where a company will be or what employees will do in 6 months, so how did such contracts ever get drawn up? It boggles the mind!”
