Wednesday, March 25, 2009


My buddy Rob directed me to today's NY Times which featured an email to AIG CEO Liddy from an EVP who was resigning. This is a MUST READ. This resignation tells the other side of the story very effectively.

As I have mentioned in previous posts on the topic, retention agreements need to be considered in the context of the problem situation and with all the relevant facts. And true leadership gets the facts and considers the alternatives in a prudent manner. Leaders don't overreact and pass ill-considered bills to tax bonuses 90%. The House looked pretty silly before this email became public. Now, they look worse.

As for Liddy, I posted on how he should have "worked the process". This email just adds support for the lack luster job he did in explaining this situation to Fed, Treasury, House and Senate.

Let me know what you think, especially you, Mark!

Cheers, Mike


  1. Where's the leadership from Congress? They've become a blood thirsty mob and are definitely not setting an example for the rest of America. They should move forward and focus their attention to spreading hope and getting us out of the recession.

  2. You are right on target. The lack of leadership to quell the angry mob was missing. Even Obama's initial comments on the matter were misplaced. But I blame Liddy for not properly explaining the issue.He could have issued a press release explaining it all. Hope he doesn't have a crisis PR firm, because if he does, they are doing a bad job.

  3. Anonymous, you stole my "handle"