Monday, January 26, 2009

No Corporate Jet For Vikram

Senator Carl Levin was prompt in his condemnation of the CEO's insane spending habits: "The notion of Citigroup spending $50 million on a new corporate jet, even as it is depending on billions of taxpayer dollars to survive, does not fly. To permit Citigroup to purchase a plush plane - foreign-built no less - (ed. brilliant, although Boeing isn't really known for their 12 seaters these days) while domestic auto companies are being required to sell off their jets is a ridiculous double standard."

Levin has said he will petition the U.S. Treasury Department to halt Citi's plan to buy the jet. “I have urged Tim Geithner, who will presumably be Treasury Secretary by the end of the day, to do what he can to stop this absurdity from occurring, and I am assured he will look into the matter promptly.”

We really would be short all private, "plush" jet makers here.... foreign and domestic...
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williambanzai7 said...

(Leaving on a Jet Plane, Peter Paul and Mary)

Well Board's about to be sacked, and I'm ready to go
Im standing here just another bailout schmo
I hate to wake you up to say goodbye
But the dawn is breakin, its early morn
The brand new $50 million Dassault Falcon is waiting,
Already Im so loathsome I could cry.

So kiss me and smile for me
Tell me that you don't hate me
Hold me like youll never let me go.
Im leavin on CITI's brand new French plane
I dont think Ill be coming back again
Oh, Mumbai, here I come.

Theres so many times I've let my shareholders down
So many times Ive behaved like another Wall Street clown
I tell you now, they dont mean a thing
Every place I go, I bring bad news
Every course I sing is the subprime blues
When I turn back, I know I'll once again get zinged.


Anonymous said...

When will they figure out the likes of John Thain are a bargain even with expensive taste and Bank America and Citi are NOT part of the Treasury.//

Anonymous said...

Actually Citi and BoA ARE part of the treasury now...that's what happens when you lose more money in 1 year than you made in the previous 5.