A honcho in the embattled firm’s financial products wing used the media to announce his resignation — and take shots at his employer
Jake DeSantis doesn’t stand a chance in the court of public opinion. Not with the words “AIG financial products unit” attached to his name. Not when last week’s Time magazine cover story was about “The Bailout Bomb: Why AIG=WMD.”
But he deserves plenty of credit for his bravery — though some might call it bravado. DeSantis is an executive vice president of AIG’s financial products unit, the arm of the international conglomerate whose credit default swap transactions helped bring the company — and our economy — to the brink of disaster.
In a well-crafted and often biting letter, DeSantis informed AIG CEO Edward Liddy of his plan to resign. But DeSantis submitted the letter in that most public of forums, The New York Times, which printed it as an op-ed piece in the March 25 edition.