Tuesday, January 27, 2009 - 11:02 am
http://www.foxnews.com/story/0,2933,483584,00.html
Citigroup, which received funding from last year's taxpayer bailout, canceled their plans to buy a $50 million executive jet after the news drew disapproval from President Obama.
Tuesday, January 27, 2009 - 1:25 pm
And other financial institutions used the money to pay CEO bonuses, and re-decorate.
Nice job of accountability.
Tuesday, January 27, 2009 - 1:29 pm
Under Bush's watch, Citi would have proceeded with the purchase.
Tuesday, January 27, 2009 - 2:13 pm
Well this is with the money that they got, and the rules along with it, under Bush's watch. The second $350 million will have the Obama rules on it, and how it is to be allotted.
I did find out from a financial adviser I met with last week that the $350 billion that went to the financial sector was in the form of LOANS ... to be paid back, with interest. That did make me feel somewhat better about it, because the feds aren't going to allow them to reneg ... can't claim that on Chapter 7, 11 or 13.
Tuesday, January 27, 2009 - 8:34 pm
Nice plane though! I wouldn't mind having one!
Although at this point in the game, I'd settle for enough money just to put fuel in it!
