As far as resignation letters go, this one, by the (soon-to-be former) Executive Vice President of the AIG-Financial Products division, is pretty exceptional. The fact that he published it as an Op-Ed in the New York Times, as well as sending it to CEO Edward Liddy, gives it high marks to begin with. He also does a good job of delineating between those within that division who were responsible for the big losses (most of whom, he claims, "have left the company and have conspicuously escaped the public outrage") and the rest who were presumably behaving in a manner more consistent with a traditional insurance company. And in the letter itself, he publicly commits to donating all of the after-tax proceeds of his bonus to charitable organizations helping deal with the current crisis, which is a commendable action even if it was made largely involuntary by the developments of the past week.
It's good to hear another side of this AIG story. Now the folks with the pitchforks and torches just need to pick up Joseph Cassano, the former head of AIG-FP and the "brains" behind the credit default swap disaster there. I guess Cassano is somewhat ironically-named, since he seems to have run that operation like a gambling addict lost in a casino.
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