Resignation Letter from “Evil” AIG Executive

Congress and the Obama Administration simply must have known the nature of the AIG contracts, bonuses, employee status, etc., and so when they stirred up populist hatred against hardworking people, they were guilty of terrible moral–and probably legal-crimes. It’s simply unfathomable to any rational person that the political leaders of a nation of laws (not men) should so easily call for the destruction of one of a free society’s central legal principles–the inviolability of contracts.

Consider this resignation letter from an AIG executive: Dear A.I.G., I Quit!:

DEAR Mr. Liddy,

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:

I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P. I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G. Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage.

After 12 months of hard work dismantling the company — during which A.I.G. reassured us many times we would be rewarded in March 2009 — we in the financial products unit have been betrayed by A.I.G. and are being unfairly persecuted by elected officials. In response to this, I will now leave the company and donate my entire post-tax retention payment to those suffering from the global economic downturn. My intent is to keep none of the money myself.

I take this action after 11 years of dedicated, honorable service to A.I.G. I can no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so. Like you, I was asked to work for an annual salary of $1, and I agreed out of a sense of duty to the company and to the public officials who have come to its aid. Having now been let down by both, I can no longer justify spending 10, 12, 14 hours a day away from my family for the benefit of those who have let me down.

Read the whole thing. And note that this guy was paid $1, and so the “bonuses” represented an entire year’s compensation.

Note: Unfortunately, the gentleman upholds the very altruist/collectivist notions that he rails against (obviously without recognizing it) when he mentions that he’s giving his bonus away, as well as working for $1 “out of a sense of duty.” And he certainly shouldn’t be surprised at the result.

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