Bring Your Shoes

Posted on 01/26/2009 at 10:20 am by JumpyPants

Un-freakin’-believable.

Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet – only this time, it’s the taxpayers who are getting screwed.

Even though the bank’s stock is as cheap as a gallon of gas and it’s burning through a $45 billion taxpayer-funded rescue, the airhead execs pushed through the purchase of a new Dassault Falcon 7X, according to a source familiar with the deal.

Not only have they taken $45 billion in bailout funds, but their stock is very likely a part of your 401(k) or mutual fund while the value of a share of Citi has gone from around $30 a year ago to $4 today. So we’re getting screwed twice by these guys and yet they’re buying corporate jets.

Commence shoe tossing. Go!

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  • trustno1

    I am honestly befuddled. Do these corporate yahoos actually think that no one is paying attention? Are they just trying to make hay while the sun is still peeking through the clouds? Or (more likely) are they so out of the loop about what’s going on that they think this is a-okay?In any case, I’ll contribute my size 7 Nikes.

  • Alan4s

    Good thing Citigroup doesn’t make cars, because then they’d be publicly ridiculed in Senate hearings about thier airplanes.Mother Fuckers!Hey, I just thought, since I helped pay for that plane, can I call for it to come pick me up and take me to a nice warm Careibean island?

  • J M Ashby

    I’m glad I don’t use Citibank. I’ve used PNC for the last 8 years.

  • Myhero

    >>I’m glad I don’t use Citibank. I’ve used PNC for the last 8 years.I think maybe you’re missing the point. Its not just citibank, all these banks are doing similar things. The point is they just don’t get it, we give them billions in bailout money to loosen the credit markets and they spend the money buying up other banks, or buying corporate jets or million dollar parties for the corporate bigwigs.This shit needs to stop. What is it going to take?

  • Curly Lasagna

    Oh, well. They COULD have just remodeled all their executive offices at a substantial savings. Think how many $68,000 credenzas, $28,000 curtains and $1,400 waste baskets $50 million can buy.

  • thruwithbuzz

    If they had to have a new jet, at least they could have bought American.