God Forbid; the Lesson from a Review of the AIG of Yesterday and Today?
Prefacing Comment to the Letter Below:
Taking a look back, two years ago …I sent out a short letter which commented on compensation in the wake of an AIG compensation party held at a resort hotel. This party went down shortly after TARP was passed by Congress …and all hell broke out in the wake of such an untimely opportunity to celabrate AIG recipients for their successes.
On March 18th, 2009, in response to this by measure of no lack of egregous, media-driven, political grandstanding, I sent out an e-mail which is a form of the letter that I have pasted herein below.
Two years later, I think these subjects are worth revisiting to remember the topics which surrounded every media story at the time.
And for one reason or another these issues preoccupied and permiated the American mindset …if, but for only a matter of weeks or so.
So, now …with th passage of two years’ time; I have to wonder how much honest esteem for such calls’ greater discretion remains?
And so, now again; I have to wonder what of any significance …has changed in the last two short years which have passed to cover over this subject’s matters and concerns?
Are the seeds of such concerns still growing? Have such produced any fruit multiplied 30, 60 or a hundred fold? Or is this a mute case of an old story gone passe in the wake of the Gulf …and now Japan? (They shoot horses; don’t they? How about Boy Scouts?)
Or did the seeds of blame and shame fall upon more than fertile ground …upon more futile stages or self-serving interests …merely failing to produce the needed wisdom in any significant abundance which would …could …and shouold serve the greater interests of all?
What work is to gain profit so few by taking a lazy and mindless course? Wouldn’t it follow that these more imediate pursuits will easily and soon forgotten?
Then, why not remember these shortcommings and …compare their woes’ measures’ lessons taken from a measure of a greater appreciation for a work whose wisdom and ethics’ mindful pursuits produce meaningful fruit?
So, then …in that which is intentioned to grow from long-lasting, applicable understandings within efforts …less lazy; why not embrace a look back in a meaningful comparison …if not merely to remember what preocupied our minds …if but for such a short time?
Therefore, in such a comparitively relative short period of time, I have to ask what has Congress to show for the passage of its time …in service to raise due diligence to a level …which is worthy of serving to provide greater oversight and higher …more nobler …more honorable levels of responsibility …and adherance to corporate governance in performance systems which demonstrates consideration for the priority of far more nobler assurances …those which strive to achieve to promote quality leadership by reason of adherance to high standards, transparency and the clarity of honest, open-door accountability?
In other words, other than our collective votes; what other enhanced ways and means of oversight has America acrued that serves to speak of improved achievable measures of oversight, safeguards …in openly improved levels of transparency?