Poor, Poor Jack

If you haven't seen it, read Jake DeSantis' resignation letter from AGI published in the New York Times.

I somehow I don't feel moved by his whiny ass, self-aggrandizing arguments.

First he claims that he wasn't responsible for what these other guys did, nor did he get compensated from credit default swaps, so he shouldn't have to give up his money. OK,well THIS guy obviously never played team sports. When the team loses, everyone looses be they a bench sitter or a full on participant.

Then he argues that contracts made between him and AIG are being broken. OK. I'll cede that point to him. I fess up to a double standard. If labor has a contract and management fails to abide by it, then I say it's wrong. I should apply the same standard here. AIG should have renegotiated its contracts with its employees like the automakers have done and are currently doing. However, AIG is something of a special case. You take billions from the US government, consider your contract renegotiated. You agree to take a $1 a year salary, consider your contract renegotiated. Oh, but I see, that was OK because he was going to get a bonus. So it wasn't the loss of the bottle that makes him cry, it's the removal of his pacifier. What does that tell you about Wall Street?

How does he think workers feel when they are told they can keep their jobs, but the have to take wage and hourly cuts? They don't have any bonuses to make up the difference.

Then he claims that he stayed with AIG rather than take another position out of loyalty to the company and . . . and this one makes me barf in my mouth . . . "civic duty". Spare me. Civic duty would have required that he pay all his taxes, served on jury duty when called, and maybe even volunteered at a community event. I could be wrong, but I doubt he did any of those things. Civic duty is taking less money to work in government, serving in the armed forces, or go teaching in a poor school. There is no civic duty involved in keeping a multimillion dollar a year job for a large Wall Street firm. Besides, if he is so great, someone will hire him. Then again, publishing this in the NYT probably means retirement is the best option.

Finally, he doesn't understand how work and skill should be valued. He seems to think he is entitled to huge sums of money because he worked so much. Well, I work hard and I am dedicated. That doesn't entitle me to anything. My boyfriend works 12 hours days and over weekends and he doesn't get million dollar bonuses. He doesn't even take OT for any of it. So do a lot of very skilled people who are a lot less well paid and much more critical to society –medical personnel, utility workers, soldiers, social workers, lawyers, teachers, and firemen all come to mind. People who are working 3 jobs to support families don't get paid $700+K bonuses after taxes. So what the guy is really saying is that it "I did it for the money.", which isn't the same thing as saying I did it out of loyality and civic duty.

So do I feel sorry for Mr. DeSantis? Not in the least. Since he likes to work so hard, let him go work in an inner city school for awhile. Then maybe he'll quit his whining.