Wednesday, March 25, 2009

New Light on AIG Bonuses

If you didn't yet read The New York Times, there's a fascinating op-ed - a resignation letter from an AIG executive.

This is a smart public relations move by Jake DeSantis, the author. He is making his case in a clear and understandable manner and, in so doing, he is setting himself up, in a very public way, as a good guy.

The letter also serves to educate those who thought - myself included - that the bonuses recently paid were obscene. The case put forth by DeSantis is that AIG double-crossed its executives - overpaid as they may be - who had absolutely nothing to do with the unbearable collapse to which we are all bearing witness.

DeSantis points an accusatory finger at Edward Liddy, AIG's current CEO for speaking in one way and behaving in another.

Already, it seems the rhetoric in DC vis-a-vis the AIG bonuses is dying down. Why? Because of the dissonance between what people are saying and what actually took place. DeSantis, I think, wins points for consistency of word and deed.

Again, public relations is about what you do and NOT about what you say.

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