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Just Shoot Me

Bala, 28, Gordon Gekko in the making, pseudo-intellectual, cynic, bibliophile, obsessive compulsive ranter...


March 26, 2009

Suddenly the world has discovered new super villains aka AIG employees - The Guys who destroyed the world as we know it(TM) and who are (still) getting paid for it. It is hilarious to see people frothing at the mouth about the bonuses AIG employees are getting. I used to work for AIG as a software consultant out of their Jersey City office and boy did their work culture suck!!. There were pretty decent and good people working there but the overall culture was that of a penal colony. They employed multiple software vendors in the same team and pitted vendor against vendor for projects. After a while, this descends into a backstabbing, sabotaging, free for all melee where getting any work done becomes an exercise of Machiavellian proportions.

And thats why i am not surprised when i find the resignation letter of Jake Desantis. When one works for a company, one does not operate in a vacuum. If the equity trading desk made profits, where did its risk capital and seed money came from?. Where did its leverage and margin money come from?. It came from the buffer offered by other divisions of the company . A sub division or a subsidiary can not and will not exist as a stand alone. What this guy is saying is this - All the good things that happened was because of me, and i have no responsibility over what others in the company did. Welcome to the wonderfully self delusional world of entitlement..

If anybody has any sense in America, they would break out the pitchforks and torches and make an example out of AIG.


posted by Bala, 7:54 PM


I read that letter and thought 'yeah right dude! you are not to blame, neither is your months old CEO!' really, how can such a big company like AIG collapse completely due to the mistakes of just one small division and the people in charge have no idea what happened? I have a feeling that AIG was in trouble due to it's FP wing was well known to everyone. Infact it seems like they used the heavy profits that FP made, to invest in other parts of AIG!
commented by Blogger Shilpa, 7:11 PM  

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