Citi Bank Flying High on TARP Money
In the January 26, 2009 edition of the New York Post an article written by Jennifer Gould Keil and Chuck Bennett entitled, JUST PLANE DESPICABLE 'RESCUED' CITI BUYING $50M JET, reveal that Citi Bank is planning on taking delivery on a $50 Million luxury jet with leather seats, sofas and a top of the line entertainment system. The Title of Ms. Gould Keil and Mr. Bennet's article hits the nail on the head. This is despicable. Citi has just taken massive amounts of government TARP money offered to them by former Secretary of Treasury Paulson and the Economic Wizard, former President George W. Bush. Obviously, Citi Bank is not in such dire straits if they can plop down $50 Million for a luxury jet. To paraphrase Shakespeare " something is rotten in Washington". Why are the banks being rewarded with Federal Money for bad business practices? Just like in the lead-up to the Iraq War, the story keeps changing, first Bush, Paulson, and Company said that the crisis was ca...