Yesterday, the New York Times published a letter from one AIG executive who resigned in disgust with AIG's handling of the situation. It's a doozy and if you haven't read it yet, I highly encourage you to check it out. Here are some fun excerpts:
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.
It’s now apparent that you [one of the leaders at AIG] either misunderstood the agreements that you had made — tacit or otherwise — with the Federal Reserve, the Treasury, various members of Congress and Attorney General Andrew Cuomo of New York, or were not strong enough to withstand the shifting political winds.