Wednesday, March 25, 2009

One Thing AIG Got Right

Perhaps members of Congress would work for $1 a year, with bonuses awarded for good performance. From BBC News:
[Jake] DeSantis, who worked in the insurer's financial products division, said after 11 years of service to AIG, he could "no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so".

"We in the financial products division unit have been betrayed by AIG and are being unfairly persecuted by elected officials," he added.

Mr DeSantis had agreed to an annual salary of $1 (£0.68; 0.74 euros), but said he had been "promised many times we would be rewarded in March 2009", referring to a bonus.

"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," he explained.

He said he would donate his entire bonus to those suffering in the global economic downturn. "My intent is to keep none of the money myself," he said.

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