Citibank should be ashamed!

[S. C.]

I also wrote a letter to Bank of America (who is just as bad as citigroup) to let them know why I took my actions. !!

Exactly why my BOA credit card never gets used.

So, they don't take delivery, and lose the deposit. Or they take delivery, sell two older planes for $3M more than this new jet costs, and save hangar/service/licensing fees for one jet/ Actually, I think it makes more sense to let them have their jet.

Let them fly coach like the rest of us that the tax payer money came from. They would save lots of money from no new plane, have $$$$$ from selling the old planes, with no more hanger/service/licensing fees.

 

[Planogirl]

By the way, I heard on the news today that Citi denied this story. True or not, they are still pretty corrupt IMO.

 

[Beca]

Question: since everyone is so appalled by this jet...who has a problem with Nancy Pelosi having her own private jet?? And using our tax money for that at her whim? Anyone?

Well, it is hardly the same thing. A military transport is something the speaker of the house has a right to. This was used by Dennis Hastert, the former Republican Speaker, but the plane set aside for him could not travel to Pelosi's CA home without refueling. The air force determined that her safety could be best assured by flying in a plane that did not have to stop for refueling. The Republican White House agreed that this was an appropriate request for the security for someone who sits third in line for the presidency of the US.

If you would like to see more information on this, check out the link below:
http://www.snopes.com/politics/pelosi/jet.asp

I think your comparison to Citibank using bailout money to buy a 3rd jet for their company is definitely comparing apples to oranges.

 

[Planogirl]

Again, Citibank apparently denied this. Does anyone know for sure?

 

[Beca]

So, they don't take delivery, and lose the deposit. Or they take delivery, sell two older planes for $3M more than this new jet costs, and save hangar/service/licensing fees for one jet/ Actually, I think it makes more sense to let them have their jet.

I heard the combined total of the two jets they are selling is $27 million.

Either way, sell the jets they own and refuse whatever bailout money they could gain from the sales.

 

[cabanafrau]

Merely to inform, Senator Obama voted in favor of the bailout to the financial sector, I believe approximately one month before the election.

 

[dthagg]

They 'control' the credit reporting agencies because they are the ones who pay them. It might not be right but someone has to.

Credit reporting agencies have to follow FCRA guidelines and are audited several times a year. Equifax, Transunion, and Experian have nothing to do with this current mess. They just hold the credit data of US consumers. It is the CC companies that misuse this data that are the issue. I have done several audits with one of these reporting agencies and believe me it is one of the most tedious things you could do.

 

[DawnCt1]

I don't know which disturbs me more... that Citibank bought the plane or that Obama has made it gov't business to care about such things. The fact that the White House dialed up Citibank and informed them about business decisions is a great example of how the concept of free enterprise in America is in deep trouble.

Frankly I am more disturbed that Obama made it his business. I can't believe that the plane was ordered recently, but perhaps at least a couple of years ago. They don't exactly have them sitting on the shelf somewhere. Now it certainly may not be prudent to take delivery of the plane at this date but I am sure that there are costs to breaking a contract and not taking the plane at this point may be largely symbolic. I believe it is Obama's goal to insinuate himself in every business. The micro manager in chief.

 

[Beca]

Merely to inform, Senator Obama voted in favor of the bailout to the financial sector, I believe approximately one month before the election.

Was that questioned here? McCain did, too....this bill was definitely a bi-partisan measure. The bailout is not surprising when you consider the Democrat's philosophy of government and oversight. However, it is very surprising to see Republican support of this bill.

 

[DawnCt1]

Question: since everyone is so appalled by this jet...who has a problem with Nancy Pelosi having her own private jet?? And using our tax money for that at her whim? Anyone?

At least before the private sector was paying for their own jet. We have been paying for Nancy's big jet for a while.

 

[Beca]

Frankly I am more disturbed that Obama made it his business. I can't believe that the plane was ordered recently, but perhaps at least a couple of years ago. They don't exactly have them sitting on the shelf somewhere. Now it certainly may not be prudent to take delivery of the plane at this date but I am sure that there are costs to breaking a contract and not taking the plane at this point may be largely symbolic. I believe it is Obama's goal to insinuate himself in every business. The micro manager in chief.

Obviously, these people need to be micro-managed. If they weren't looking for help.....why did they ask for money? I am sure many of the ex-ENRON employers would have LOVED to have had their company micro-managed if it meant they would get to keep their jobs. I am sure the ONLY people who resist this micro-management are those people who are doing such a poor job of running this industry.

 

[Beca]

At least before the private sector was paying for their own jet. We have been paying for Nancy's big jet for a while.

We also pay for the President's plane....and the VP's. We also paid for Hastert's since 9/11. She is right behind Biden in succession for the presidency, and the military asked for this security measure...not her. Her "luxury jet request" is an urban legend.

 

[DawnCt1]

Obviously, these people need to be micro-managed. If they weren't looking for help.....why did they ask for money? I am sure many of the ex-ENRON employers would have LOVED to have had their company micro-managed if it meant they would get to keep their jobs. I am sure the ONLY people who resist this micro-management are those people who are doing such a poor job of running this industry.

Lets not forget where the financial meltdown began; Freddie and Fannie. It was government interference and a mandate to lend money to those who couldn't and wouldn't pay it back, that got us into this. There are companies and people that will take anything if its free. The insurance company that I work for recently bought a bank so they could get free money too. It is out of control.

 

[Beca]

Lets not forget where the financial meltdown began; Freddie and Fannie. It was government interference and a mandate to lend money to those who couldn't and wouldn't pay it back, that got us into this. There are companies and people that will take anything if its free. The insurance company that I work for recently bought a bank so they could get free money too. It is out of control.

Here we are just going to have to disagree. Fannie and Freddie were a symptom....not the problem. The biggest problem is predatory lending, and ignorance. Many people were taken, bait and switched, or just frankly not educated enough to understand how mortgages work, to know what they could or could not afford. The other segment is those who purchased sub-prime mortgages to make a quick fortune in the escalating real estate market (again....if you look at the cyclical nature of real estate....more ignorance). The only people I feel are blameless in this situation are those investors who purchased mortgage-backed securities who were mis-led on the risk of those bundles of loans. However, IMHO only "luxury" money should be played in the stock market, so.....the people who could afford to invest in MBS's are better off than many people in this world...so, my sympathy is limited even there.

 

[Zippa D Doodah]

They are not taking delivery of the plane... (idiots)
they will lose their down payment...unless the plane is sold and they they can recoup it....

So, they don't take delivery, and lose the deposit. Or they take delivery, sell two older planes for $3M more than this new jet costs, and save hangar/service/licensing fees for one jet/ Actually, I think it makes more sense to let them have their jet.

Yesssss.... voices of reason.

I agree with you that the bailout should NOT have happened, and I was absolutely SHOCKED that a Republican conservative president would pull so many strings to get it pushed thru. I was also surprised to see how many Republicans voted for the bailout. Honestly, I thought the byline of the Rep party was non-government interference. However, now that the money has been promised and given....any oversight by the government, on behalf of those who paid for the bailout is a welcome, and obligatory action.

Beca, that made me want to puke. I still appreciate much of what Bush did. But I am astounded that he sold all his market principles down the river. The man stood strong against terrorists, but when Paulsen told him he might oversee a depression Bush got weak-kneed. So here we are trying to figure out how to put the genie back in the bottle.

Frankly I am more disturbed that Obama made it his business. I can't believe that the plane was ordered recently, but perhaps at least a couple of years ago. They don't exactly have them sitting on the shelf somewhere. Now it certainly may not be prudent to take delivery of the plane at this date but I am sure that there are costs to breaking a contract and not taking the plane at this point may be largely symbolic. I believe it is Obama's goal to insinuate himself in every business. The micro manager in chief.

Yup. And for the life of me I can't figure why soooo many reasonable, intelligent, patriotic people think that is just the gosh-darndest most fantastic thing ever.
Wake up, everybody! Soylent Green is people!!!!!

 

[CowboyCO]

Isn't there some way to control what that money is spent for?? Geesh.

Journalists are now combing the appropriations of companies to make another headline. This plane was ordered two years ago.

Is there a way to control what money is spent for? Absolutely!!

Ask Hugo Chavez how...

 

[DISUNC]

Now I want the Govt to Bail me out, AND Buy me a Private Jet. I want it painted LIMEGREEN!


"I'm DisUnc...FLY ME!"::cop:

 

[DawnCt1]

Journalists are now combing the appropriations of companies to make another headline. This plane was ordered two years ago.

Is there a way to control what money is spent for? Absolutely!!

Ask Hugo Chavez how...

I think Obama did ask Hugo!