The Mindset of an AIG executive
(Blog Post)
A few things struck me in the “resignation letter” of Jake DeSantis, an executive vice president of the American International Group’s financial products unit. (People don’t normally forward their letters of resignation to The New York Times)
First, of course, is his justified sense of outrage at having been abandoned by his boss, AIG chief Ed Liddy, before Congress and at having his bonus essentially taken away. “Like you, I was asked ...
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I agree with the author's assessment that Mr. DeSantis's letter reflects a mindset that is representative of the financial industry. That mindset has done serious damage to our economy, by validating some of the excesses that caused the recent meltdown. I hope that over time, financial execs can recalibrate their expectations and sense of entitlement, to bring back down to earth, on a more equal footing with the rest of us common mortals.