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I am reaching the limits of my ability to stand more waste of our money. Today, I learned that Citigroup (NYSE: C) is taking delivery of a $50 million corporate jet from French manufacturer, Dassault. (For that kind of money, it could have at least bought from an American manufacturer).
I know the U.S. invested $45 billion worth of taxpayer money with no strings attached -- but is it really possible that Citi does not get that buying a corporate jet with that money is blazingly stupid?
There is some irony on this front. This evening Maria Bartiromo conducted an interview with John Thain who was deposed last week for various sins. Bartiromo was in Davos, but Thain was not -- although one of his sins was that he had accepted an invitation to attend Davos. But back in 2007 -- almost exactly two years ago -- it was Bartiromo who got in some hot water for taking Citi's corporate jet with then Citi-executive Todd Thomson.
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