Even Sen. Levin is learning

[CARLHAYDEN]

Carl Levin, had some apt remarks on the antics of Citigroup.  From Yahoo news.

Monday January 26, 08:34 PM
US Senator: No new jet for Citigroup

WASHINGTON (AFP) - Democratic US Senator Carl Levin on Monday levelled a blistering attack at Citigroup (NYSE: C - news) over a report that the troubled US banking giant planned to buy a brand new corporate jet for 50 million dollars.

"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," Levin said in a statement.

The New York Post reported that Citigroup, which has received some 45 billion dollars from government rescue package, was looking to buy a plush, French-made Dassault Falcon 7X, citing a source familiar with the plan.

"The notion of Citigroup spending 50 million dollars on a new corporate jet, even as it is depending on billions of taxpayer dollars to survive, does not fly," said the senator.

"To permit Citigroup to purchase a plush plane -- foreign-built no less -- while domestic auto companies are being required to sell off their jets is a ridiculous double standard," said Levin, who hails from Michigan

[Lief 🗽]

This is why nationalizing is the best solution. Government-employed CEOs wouldn't be wasting our money on this crap.

[bullmoose88]

This is why nationalizing is the best solution. Government-employed CEOs wouldn't be wasting our money on this crap.

Oh really?

[bullmoose88]

My above post was obviously a joke, since the two posts arent exactly comparable, but thinking Government won't waste money....ahahahahahahahahah

[Padfoot]

Good thing Obama is around to babysit these idiots now.  I'm talking, of course, about the idiots in Congress who handed the government's "credit card" over to a group of people who had already proven they were irresponsible spenders.  Its like parents giving their teenage daughter a credit card to buy groceries and gas after she spends all her own money on clothes and manicures.  Then they act all shocked when she comes home with her nails freshly done and three bags full of designer clothes.  Any idiot could have seen this coming which is why there was such widespread opposition to the bailout from the public.  This has been some of the most piss-poor management of government funds I've seen.

[Nicodeme Depape]

My above post was obviously a joke, since the two posts arent exactly comparable, but thinking Government won't waste money....ahahahahahahahahah

Please use some specifics for once? Republicans always complain about waste and how government is inefficent. Can you please be a little less vague?

[cinyc]

Citigroup is selling 2 older jets to pay for the new one - which has been under contract to be built for years.  Failure to take delivery will cause the company to lose their initial deposit for the jet.  But the facts shouldn't get in the way of an idiotic class envy story that makes Democrat socialists yearn for more government control over corporate America.

This is why nationalizing is the best solution. Government-employed CEOs wouldn't be wasting our money on this crap.

That's got to be the most laughable post I've seen on this board in a while.  Do you have some $700 screws to sell?  The government will buy them.  The local school superintendent needs a new car to take home?  The government will lease him a Lincoln.  Want a multi-million dollar multimodal facility built to service 500 passengers a day in the middle of nowhere?  Get your Congressman to pay for it. 

It's very easy to waste other people's money - and the government is the king of doing so.

[Nym90]

Glad to see all those student loan payments I make to them monthly are going to good use.

[CARLHAYDEN]

Good thing Obama is around to babysit these idiots now.  I'm talking, of course, about the idiots in Congress who handed the government's "credit card" over to a group of people who had already proven they were irresponsible spenders.  Its like parents giving their teenage daughter a credit card to buy groceries and gas after she spends all her own money on clothes and manicures.  Then they act all shocked when she comes home with her nails freshly done and three bags full of designer clothes.  Any idiot could have seen this coming which is why there was such widespread opposition to the bailout from the public.  This has been some of the most piss-poor management of government funds I've seen.

Well said!

Now I'm begining to understand the attitude of the average frog during the french revolution with respect to the aristocracy.

The idiots at AIG and Citigroup have the belief that it is the duty of the taxpayer to support them in the lifestyle they grew accustomed to while wrecking their companies.

Notice how Citigroup keeps insisting on making stupid expenditures, and that those expenditures go outside the United States?