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Citigroup…Buying A Corporate Jet?

Written by | January 27th, 2009
Hi everyone,
Well, apparently, the circus is still on tour.
 
The government gives Citigroup 45 billion in tax-payer dollars, now Citigroup is purchasing a 50 million dollar corporate jet; from The French.
http://www.nypost.com/seven/01262009/news/nationalnews/just_plane_despicable_152033.htm 
 
The interesting thing is that I am actually not really angry with Citigroup; I’m actually not surprised; after all, we need to consider how they got in this position, in the first place. 
 
Mark
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2 thoughts on “Citigroup…Buying A Corporate Jet?

  1. markross Post author

    Well, this is certainly good news, from my point of view…

    Due to public pressure, and (reported) pressure from The White House, Citigroup cancelled the purchase of this 50 million dollar jet.

    http://news.bbc.co.uk/1/hi/business/7855554.stm

    This is "absolute" evidence that public opinion, when joined together, can change policies.

    I am very pleased that the people, and The White House (in this case) have spoken.

    Mark

    Reply
  2. markross Post author

    There is also a real downside to companies (in a capitalistic society) having to fold to public and governmental opinions, and intervention, however, I will need to elaborate more on this later.

    The long and short of it is…next time, file bankruptcy.

    Mark

    Reply

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