Our tax dollars buy Citi a $50 million French jet

Why does the government allow these CEO's of so many companies to spend our hard earned tax dollars as they please without being held legally responsible? Having a vested intested in this company, I am shocked and angry that they would spend $50 million dollars on a jet when stock holders lost so much. They need to be punished by law. We, the people have had enough!!! Blog everyone. How do we stop this ??????

What is up with our government that they are not calling this man down to Washington DC immediately! After the way they dressed down the big three, HOW DARE THEY NOT HOLD CITI ACCOUNTABLE. This just shows how bought and paid for that our government is. Put an end to the lobbyists!

Here we go again these guys don't get it. I am sick and tired of my money yes that's right my money being spent on the Fat and yes I mean Fat Cats again. We need to stop this now. If this practice it's not being stopped then someone is getting paid off big time. I feel for the person losing their house they sure could use that money a lot more than someone who cannot take a Southwest flight. Come on Congress do something you are looking like a bunch of fools and you are only to blame.

Isn't it possible that they ordered this plane a long time ago and couldn't cancel it? I don't know much about private jet manufacturers but I doubt there's a hangar full of $50 million planes that they went shopping in yesterday.

Normally bail out packages will not solve any of the problem as it is hyped. www.askamarkettechnician.com

These executives at Citicorp and others like them should be jailed for the abuse of taxpayers' money. And for the public's money they wasted (on themselves) before these economical problems surfaced. I don't believe we yet understand that these people are responsible for more than just the money they stole. They have destroyed lives and families. They've caused people to commit suicide because of losing their jobs and investments. They should be investigated and prosecuted. They've proven they feel untouchable when they use our money to purchase a $50 million jet, and foreign at that. The U.S., president rides in a plane that is 20 years old. Who are these banks execs and wall street fat cats? How can they so freely flaunt their arrogance and riches while the rest of the world travail in financial agony?

Just to play devil's advocate, it is conceivable that you have to spend money to make money? I don't know what it is that CEOs do on their private jets, but maybe it is useful for networking at that level. It is not especially interesting to see all of these rants that say "The CEO of AIG bought two Big Macs for lunch with my bailout money, instead of giving one to me, what a pig!" without giving any sort of context for the news in question.

The jet may be a contract that they could not renege on and, if so, just another nail in the executive coffin. Thain is the news and an example of all. He said he is sorry.
Being sorry for stupidity. Being sorry for greed. Being sorry for horrendous bad judgment solves nothing. What is needed is good competent leadership and the current group of executives throughout the entire banking industry displays none.
Before anything is going to change - They have to go. So do all others that fit this mold. We cannot have people being paid millions of dollars in salary that essentially run a business poorly. Sweeping changes have to be made. I would suggest that a law be passed that would require the boards of directors to actively monitor their associated business and it's executives. Failure to do so would make these individuals liable to civil/criminal actions - both as a group, and personal. With a large axe hanging over their heads they might pay attention.

Obama Officials Tells Citibank To Ditch Plans For $50 Million Private Jet

The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France...

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."

http://tinyurl.com/ce9bgqpage=1

But it's O.K. for politicians to utilize jets with tax dollars right? How come that hasn't really been brought up as an issue? I understand that people are upset with this irresponsibility, but the negative publicity with corporate jets has had a consequence of many job losses for those who work in the aviation industry (manufacturers, pilots, technicians, repair stations and safety schools) not to mention job losses to hotel personnel, limo drivers and all of the other jobs created by people having the freedom to spend their money as they wish. Now all of these people are scared to spend anything because of the scrutiny, so guess who gets hurt most? The little guy!!!!