Posted on 01/27/2009 7:42:38 AM PST by TigerLikesRooster
OBAMA & CONGRESS BLAST CITI OVER JET
By JENNIFER GOULD KEIL and CHUCK BENNETT
January 27, 2009 --
High-flying Citigroup executives, trying desperately to hang on to their new, $50 million luxury jet, took heavy flak yesterday from the White House and Congress after The Post revealed how the beleaguerred bank is blowing taxpayers' rescue funds.
EDITORIAL: CITIBOOBS
The Financial behemoth, being kept afloat by $45 billion in public life support, should not be spending its precious greenbacks on frivolous luxuries, said President Obama's spokesman, Robert Gibbs.
Obama "doesn't believe" business jets are the "best use of money," said Gibbs. "He said that as it relates to the auto industry, and he believes that as it relates to banks, as well."
(Excerpt) Read more at nypost.com ...
Ping!
reason 2901 why bailouts were a bad idea. Thanks, McCain for not giving us an alternative.
I think Citi should give up their jets when Pelosi gives up her.
What about Congresshag Peolousi’s jet?
I understood that they bought it 2 yrs ago, when they had a lot of money.
Obama inauguration sets record for private jets
http://blogs.wsj.com/wealth/2009/01/20/obama-inauguration-sets-record-for-private-jets/
All that ever happens to these guys is a tongue lashing, that’s it. I would take 1000 times the tongue lashing Citi took for 1/1000th the money they just got = $45 million. I’d like to see Congress remove ninety nine times the cost of the jet from Citi’s picnic basket that they were just given. Just take $5 billion away. Now. Today.
>>Obama “doesn’t believe” business jets are the “best use of money,” said Gibbs.
Then he’ll be giving up Air Force One, right?
My first thought as well. What does she have? A private 757? That is a nice toy to have for her to fly back 'n forth to her home district -- on our dime.
Meanwhile a round trip for Pelosi to California costs taxpayers $300,000 dollars.
You mean a single person in Washington had to WONDER if the bailout money would be abused? No brainer for me.
Just look to Katrina and those checks sent out for the “impoverished”. They spent it on lap dances, booze, whatever. Sure, some used it wisely, but quite a few did otherwise and blew it. Yet...same people are still happy to hold out their paw every month for the scheduled gov’t handout. Lovely.
From http://dealbook.blogs.nytimes.com/2009/01/27/citi-reverses-course-on-50-million-jet/ ,
Citi Reverses Course on $50 Million Jet
January 27, 2009, 10:20 am
Facing outrage from some lawmakers, Citigroup now says that it will not take delivery of a brand-new $50 million corporate jet.
“We have no intent to take delivery of any new aircraft,” a Citigroup spokesperson told Dealbook on Tuesday morning.
The bank, which has received hundreds of billions of dollars in government funds and guarantees, came under fire Monday after it emerged that the company was set to take delivery of a luxury corporate jet (built by the French, as it happens).
If they really wanted to help Main Street, the government would cut capital gains taxes and corporate taxes. That would grow the economy and create jobs.
But the point of the bailouts is to buy friends, pick economic winners and losers, and lock in future political gains. The implementation isn't helping Main Street, because it's not intended to.
Don't blame McCain for being the brightest of a box full of low wattage incandescent bulbs.
Nancy Pelosi must be jealous.
Works for me! Goose and gander and all that (not sure if Pelosi is the goose or the gander!).
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