write a one page memo

To:

From:

Date:

Re:

John Tuld, CEO

Monica Lache, Board Member

11./te/2013

Sarah Robertson

I have been made aware of the fact that you have chosen to terminate Sarah Robertson this morning. I think this is a terrible decision and I implore you to reconsider. ln all of her time with the firm Ms. Robertson has always been a responsible and knowledgeable employee and it would be morally irresponsible to fire her for the faults of others.

Sarah Robertson has been an asset to the firm and from my understanding ofthe events that

. , \ conspired, her termination was a result of you needing "a head to feed the traders on the floor (fnd \r6W 4Uots) and the board[,] can assure you sir the only head the board is looking for are those who

willingly and neglectfully turned a blind eye to the severe risks of mortgage backed securities. Sarah Robertson is not that person. ln fact, Sarah knew about these risks and sent several warnings to yourself as well as Mr. Jared Cohen. Why isn't Mr. Cohen's head on the chopping block or yours for that matter?

As the CEO of this company it is your job, as you said, to determine what the market will do and steer the ship in the right direction. Well you have driven this company in the wrong direction. First, by not listening to the educated advice of your senior management, then dumping these worthless mortgage backed securities onto unsuspecting clients, and finally wrongfully terminating Sarah Robertson. lt is the responsibility of those in charge to take accountability. Your decision to not heed the warnings of Ms. Robertson and have caused this company great harm. lt is time to take some personal responsibility for your actions instead of passing the blame on to others.

I firmly believe honesty is always the best policy. lt is time for you to be honest with our clients, the board and most importantly, yourself. The fact that Sarah tried to warn yourself and Mr. Cohen and you chose to ignore those warnings show that this termination is irresponsible and undeserved. I again urge you to reconsider her termination.