This letter to the NY Times by an AIG executive sums up, quite nicely, the incompetence and venality of the current administration and the Democratic Congress. The Executive ran a profitable part of AIG that was in no way related to the credit default swap stuff that failed. He worked for $1 plus a performance bonus (met) that he was vilified for in Congress and targeted by the AG’s of two states:
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.
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The only real motivation that anyone at A.I.G.-F.P. now has is fear. Mr. Cuomo has threatened to “name and shame,” and his counterpart in Connecticut, Richard Blumenthal, has made similar threats — even though attorneys general are supposed to stand for due process, to conduct trials in courts and not the press.
Read the whole thing. You own 80% of AIG, are you happy that the people you hired to run it are running off talent that can make your share worth more?