Tuesday, Jan 27, 2009
Are U.S banks now getting the message?
Guardian: Citigroup aborts plans to spend $50m on a company plane
The embattled Wall Street bank Citigroup has cancelled its purchase of a $50m (£36m) corporate jet after a political outcry on Capitol Hill over the price tag.
After defending its plan to buy a French-made Dassault Falcon 7X yesterday, Citigroup performed an abrupt u-turn with a terse statement this morning saying: "We have no intent to take delivery of any new aircraft."
Citigroup has received more than $45bn in taxpayers' money to stay afloat amid ballooning losses from mortgages and credit-related derivatives. From the White House downwards, politicians have criticised the bank for upgrading its fleet of aircraft.
Posted by who stole my pension? @ 09:31 PM (397 views) Add Comment
5 Comments
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1. paul said...
And why does the bank have a fleet of aircraft?
At least they might not lose so much money in the airline business.
2. bystander said...
W*nkers!!!!! 45bln to stay in business and they still order a new aircraft - which they would have taken delivery of if not discovered. They are all, not just Citi, laughing all the way to the 'bank'. No pun intended, just a sickening reality.
3. tyrellcorporation said...
I am amazed there hasn't been a few street protests at all this stuff. It just goes to show how Western governments have pretty much lobotomised the masses with soaps and reality TV shows.
4. who stole my pension? said...
Paul,
Q: And why does the bank have a fleet of aircraft?
A: The directors need to learn to bail out just before the crash!!
5. 51ck-6-51x said...
LoL ^^