So, once more with the idiotic and massive waste of huge amounts of OUR money.
There's an excellent chance there would be no CITIgroup if the idiots on both sides of the aisle hadn't ratcheted up steam-shovels full of cash with few, if any strings attached.
Interfering with economic law when it gets a little uncomfortable has led us to this. With the spigot turned on and billions already wasted, the recipients of government largess already know that there's nothing at this point that government can do to reign these people in.
We are being abused. And so far, there is no particular reason for that abuse to stop.
The ball is in the democrats court generally, and Mr. Obama's court specifically.
But I doubt they'll do what has to be done, which is to stop this printing-press madness.
'RESCUED' CITI BUYING $50M JET
- CITIGROUP
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By JENNIFER GOULD KEIL and CHUCK BENNETT
Last updated: 10:06 am
January 26, 2009
Posted: 1:02 am
January 26, 2009
Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet - only this time, it's the taxpayers who are getting screwed.
Even though the bank's stock is as cheap as a gallon of gas and it's burning through a $45 billion taxpayer-funded rescue, the airhead execs pushed through the purchase of a new Dassault Falcon 7X, according to a source familiar with the deal.
The French-made luxury jet seats up to 12 in a plush interior with leather seats, sofas and a customizable entertainment center, according to Dassault's sales literature. It can cruise 5,950 miles before refueling and has a top speed of 559 mph.
There are just nine of these top-of-the-line models in the United States, with Dassault's European factory churning out three to four 7Xs a month.
Citigroup decided to get its new wings two years ago, when the financial-services giant was flush with cash, but it still intends to take possession of the jet this year despite its current woes, the source said.
"Why should I help you when what you write will be used to the detriment of our company?" replied Bill McNamee, head of CitiFlight Inc., the subsidiary that manages Citigroup's corporate fleet, when asked to comment about the new 7X.
"What relevance does it have but to hurt my company?"
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