Touching on Everything and Anything

Wednesday, January 28, 2009

Citi Bank pushed to cut the order of new jet

Sometimes I see a story and it makes me so upset that I have to remind my self to calm down after reading it. This is one of those stories. Citi Bank, yes the same city bank that recently received 45 billion dollars of taxpayer dollars, was told by the government that the purchase of a 50 million dollar luxury jet may not be the smartest move in the world in these hard economic times.
Yesterday Citi Bank stated that they would complete the purchase of the new jet dispite the economic climate we are all suffering in. It was only today that Citi Bank backed down under intense questioning from the new head of the US treasury, Tim Geithner. I would like to thank Mr. Geithner for getting to the bottom of this issue and slapping some sense into the scum bags at Citi Bank before it was too late.
Citi Bank lost 8.2 billion dollars last year. That would be pretty astonishing if that were the case but it is not, it is actually a more disturbing picture for Citi Bank. They lost 8.2 billion dollars in the last THREE MONTHS of 2008. This is the same Citi Bank that had to be talked out of buying an executive jet with taxpayer dollars.
It gets even worse for the bank, aparently this jet was not any old jet liner, it was a Dassault Falcon 7X, which, according to the Dassault’s sales literature, seats 12 in leather seats and sofas and includes a custom entertainment center. The purchase of the jet would not have helped any American jet makers either as this company builds all of its aircraft in France.
The irresponsibility exhibited here is out of control. People need to send a message to Citi Bank that this kind of behavior will not be tolerated by Americans, or in other words their shareholders. If you have accounts at Citi Bank I would encourage you to cancel them as supporting any company that behaves like this is 'plane' and simple the wrong thing to do.

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