Tuesday, January 27, 2009

Are U.S banks now getting the message?

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 (835 views)
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5 thoughts on “Are U.S banks now getting the message?

  • And why does the bank have a fleet of aircraft?

    At least they might not lose so much money in the airline business.

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  • 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.

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  • tyrellcorporation says:

    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.

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  • who stole my pension? says:

    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!!

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  • LoL ^^

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