AIG's ex-CEO Refuses $22 Million Payout

[rgG]

Perhaps a person of character may have emerged on Wall Street. He had only been the CEO since June 15, 2008.

American International Group's former Chief Executive Robert Willumstad has rejected a $22 million severance payment, the Wall Street Journal reported, citing a person familiar with the decision.

Willumstad e-mailed his successor, Edward Liddy, of his decision to forego the severance since he was not able to execute the restructuring plan he had developed, the paper said.

http://www.cnbc.com//id/26834025

[Mike Sellers]

You hear so much lip service paid to "personal responsibility" it's kind of shocking when someone actually takes it.

[Lux Interior]

I have a feeling the next article on this guy will involve the trunk of his car and deceased prostitutes.

[Gutenberg]

He was the CEO for three whole months! $22 million is cheap.

Seriously, I think this fellow looked down the road a bit and realized that the amount of flak he would take for accepting the $22 million would make it not worth accepting.

[wurm]

Can he be drafted to run for president?

[rgG]

wurm wrote:
Can he be drafted to run for president?

You know, the same thought crossed my mind.

[swampy]

He must be a Republican or, an honest Democrat. LOL

[Mike Sellers]

Gutenberg wrote:
He was the CEO for three whole months! $22 million is cheap.

Seriously, I think this fellow looked down the road a bit and realized that the amount of flak he would take for accepting the $22 million would make it not worth accepting.

Considering how much of a rarity this kind of behavior is, I say let's give him the benefit of the doubt. No one will follow his example if his actions are automatically met with suspicion instead of praise.