Time the market…

I’ve been hesitant to re-enter the market, despite seeing an obvious low when the Dow went into the 6,000’s last week.  Today, after pulling an all-nighter, I think I have some vindication.

Jake DeSantis, an employee at AIG, sent a letter of resignation yesterday, published today in the NYTimes.

This letter is clear, articulate, organized, and heartfelt.  I can’t speak for the validity of some of his claims, but for the sake of clarity, that elusive scent which seeps from only a most supple mind, I say this guy deserves a million-dollar bonus.

Jake DeSantis, I’m a fan.  Holla.

What is important to realize here, however, is that DeSantis alludes to a potential problem in the rescue — and it’s the same problem that’s caused the crisis in the first place.  Specifically, he intimates that all the people responsible for the bad swaps have left AIG and that many people like him — those innocent of negligence — are being unfairly punished in their place.  Hence, what will (ostensibly) happen is that you’ll have an attrition of these talented, innocent employees, which will further stigmatize AIG, precluding talented recent-graduates from working there.  And, if that happens, AIG will truly be neither able to retain  nor attract the talent it needs to get us clear of this financial latrine.

In other words, AIG’s chances of tanking in the near future look better than average.  Which means we’re probably all screwed.  Time to move someplace warm.  Like Uganda.

This entry was posted on Wednesday, March 25th, 2009 at 9:33 am and is filed under Africa and tagged with , . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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  1. Jake Desantis | Hot News

    [...] Time the market… [...]

    Mar 25, 2009 @ 11:12 am


  2. About Jake Desantis | Hot Web Trends

    [...] Time the market… - [ JamesSong.com ]Jake DeSantis, an employee at AIG, sent a letter of resignation yesterday, published today in the NYTimes. This letter is clear, articulate, organized, and heartfelt. I can’t speak for the validity of some of his claims, … Read more [...]

    Mar 25, 2009 @ 11:54 am


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    [...] Time the market… - [ JamesSong.com ] (jamessong.com) - March 25, 2009Jake DeSantis, an employee at AIG, sent a letter of resignation yesterday, published today in the NYTimes. This letter is clear, articulate, organized, and heartfelt. I can’t speak for the validity of… more Jake Desantis blog posts … [...]

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