On Tuesday, Jake DeSantis, an executive Vice-President AIG’s financial products unit resigned. Mr. DeSantis, who did not participate in the credit swap transactions that brought AIG to its current position, has been working for an annual salary of $1 per year and the contractual promise of his retention bonus. Now Mr. DeSantis will shortly be unemployed; his and his family’s safety has been threatened; he is suffering the scorn of the American public; and his bonus has effectively been confiscated. Please take the time to read his letter to Edward Liddy, AIG’s CEO. I assure you, it offers a perspective mostly ignored by, well, everyone.
There have been a few times in my life when I said I never thought I’d see the day and I really meant it; watching the celebrations on the Berlin Wall in 1989 comes immediately to mind (and I don’t mind telling you, I teared up even today when I watched this video). Those people knew what it felt like to live under the yoke of tyranny and for them, freedom was sweet.
This is another of those times and I’m nearly moved to tears but they are not tears of joy. I never thought I’d see the day when the full force of the power of the United States Congress can be brought to bear on a select group of law abiding individuals, aided and abetted by their lackeys in the media, and, rather than arousing the ire of the citizenry, it’s applauded as though they’ve done something other than trample on the Constitution. A dark day for America.