Thursday 26th of December 2024
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bailout class .....

bailout class .....

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.

http://www.nypost.com/seven/01262009/news/nationalnews/just_plane_despicable_152033.htm

not fun anymore...

Bob Diamond, president of Barclays Bank and head of its investment banking arm, has become the latest banker to decide not to go to the World Economic Forum.

Barclays stressed that many of its other executives would be attending.

Several other bankers, mainly from US banks, have decided against travelling to the Swiss ski resort of Davos.

The World Economic Forum is an annual event attended by politicians and business leaders. It has gained a reputation for its glitzy parties.

Others who decided against attending at the last minute include Citigroup's chief executive Vikram Pandit and former Merrill Lynch boss John Thain.

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There would be no caviar, I suppose... And they might have to face the music rather than dancing to it.

the twelve apostles...

the twelve bankers who made more than 1 Bn dollar...

mister fix-it .....

According to a report from ABC News, President Obama is not taking kindly to corporate greed, especially when it's funded by taxpayer money. Read more from ABC here:

The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France...

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."

http://www.alternet.org/blogs/peek/122987/