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GumbyLearner said:
This is becoming more ridiculous by the day.


http://www.google.com/hostednews/afp/article/ALeqM5iydnbB6rVcQmAEJiHzEn0XqDfp8g

Citi grounds plans for corporate jet
1 hour ago

NEW YORK (AFP) ”” Citigroup said Tuesday it had "no intent" to take delivery of a new corporate jet, news of which had stirred ferocious opposition from the White House and Capitol Hill.

Citi, which has received 45 billion dollars in US government capital to help it weather the financial crisis, had indicated earlier in the week plans to reduce its fleet of corporate aircraft and purchase at least one that is more fuel efficient.

The New York Post reported the banking giant was readying a purchase of a 50 million-dollar French-made Dassault Falcon 7X, with a plush interior, leather seats, sofas and a customizable entertainment center.

"We have no intent to take delivery of any new aircraft," a Citi spokesman said.

On Monday, the company said it had intended to accept delivery because of "millions of dollars in penalties" if it had refused.

Democratic US Senator Carl Levin on Monday had assailed the plan.

White House spokesman Robert Gibbs had also said that President Barack Obama believed "that great care should be used anytime the taxpayers' money is being used," referring to the bank rescue funds.
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Who said - Pigs can't fly.
 
GumbyLearner said:
This is becoming more ridiculous by the day.

First, it was $1400 trash cans being purchased at Merrill Lynch and the $1 million dollars used to renovate CEO John Thains office.

Now Citigroup have to be told by the new Obama administration to cancel the purchase of a corporate jet.

.
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A leopard cannot change it's spots.

Now that Citi has been effectively nationalised, maybe they can strap some guns on that bad boy and send it to Iraq? With all the hot air in the cabin, I am sure it will save on fuel costs!

PS: This thread is so quaint - I love it! Can we get some sound bytes attached so it makes that Channel 9 news sound when you open it?
 
wayneL said:
Well, is borrowing from our children to pay for us to live beyond our means kosher?

I think not.

Let's let this nonsensical period work out of the system an them let's get producing, saving and build a surplus economy again.

It's pain of our own making, let's take it like real men and women.
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If the pain was evenly spread I would go along with what you say. Unfortunately some suffer badly in a recession as I did in 1987 - 94. This time round I'm a lot better off and can sit back watching how it all plays out.

A lot of money seems to have evaporated this time round and a recession looks likely, in my view, to go on until 2013 - 2014 and recovery around 2017 - 2018.
 
noirua said:
If the pain was evenly spread I would go along with what you say. Unfortunately some suffer badly in a recession as I did in 1987 - 94. This time round I'm a lot better off and can sit back watching how it all plays out.

A lot of money seems to have evaporated this time round and a recession looks likely, in my view, to go on until 2013 - 2014 and recovery around 2017 - 2018.
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Yeah, the pain is never inflicted upon those that most deserve it (I'm thinking of Central and Institutional Bankers, politicians and the Wall Street cheerleading squad). But with this Keynesian nonsense, the little people will pay for both the bw@nkers transgressions PLUS their own follies.

I can afford to sit back and watch too, but their ####ing hand is going to be in MY pocket to bail THEM out. When they've finished with me, they'll have their hands in our kid's pockets to pay off THEIR debt.

As a generation, WE'VE ####ed up. WE should have the balls to bear the consequences without passing it on to the next generation of innocents.
 
wayneL said:
Yeah, the pain is never inflicted upon those that most deserve it (I'm thinking of Central and Institutional Bankers, politicians and the Wall Street cheerleading squad). But with this Keynesian nonsense, the little people will pay for both the bw@nkers transgressions PLUS their own follies.

I can afford to sit back and watch too, but their ####ing hand is going to be in MY pocket to bail THEM out. When they've finished with me, they'll have their hands in our kid's pockets to pay off THEIR debt.

As a generation, WE'VE ####ed up. WE should have the balls to bear the consequences without passing it on to the next generation of innocents.
Click to expand...

Agree and whats left and more will be spent by KRudd to experiment with his economic theories of bailout is best.
 
wayneL said:
As a generation, WE'VE ####ed up. WE should have the balls to bear the consequences without passing it on to the next generation of innocents.
Click to expand...
Ahhh!Wayne,when I read that first sentence above,I thought you were generalising.But,reading on,I see you are only referring to the mere males of the generation.
 
noirua said:
UK Prime Minister Gordon Brown has suggested the World is heading for "depression": http://www.timesonline.co.uk/tol/news/politics/article5660573.ece
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Its funny how if the leader of a major country comes out and says we are going into a depression everyone cries (vica versa) so it really doesnt matter what the leaders say as most of them have donkey advisors.

Its good to see thow finally 1 leader come out and speak some sense, lets see what his plan is thow :rolleyes:
 
Ageo said:
Its funny how if the leader of a major country comes out and says we are going into a depression everyone cries (vica versa) so it really doesnt matter what the leaders say as most of them have donkey advisors.

Its good to see thow finally 1 leader come out and speak some sense, lets see what his plan is thow :rolleyes:
Click to expand...

However, this was followed in the article by ...

A No 10 spokesman said that Mr Brown's use of the word "depression" was not deliberate. "And he does not think it."
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Thus, the bounce in UK share market overnight. It was an "honest mistake" and all is well now. :D
 
Germany, Europe's largest economy, has reported a 2.1% downturn in the last quarter of 2008, compared to the third quarter. This followed declines of 0.5% in both the second and third quarters. The drop of 2.1% was the worst quarterly performance since 1990, at the time of the reunification of Germany.

The French economy shrank by 1.2% in the same quarter and Italy reported a 1.8% contraction, the steepest drops since 1980.

The data puts pressure on the European Central Bank to cut interest rates.
 
Post-Dramatic Press Disorder

http://emac.blogs.foxbusiness.com/2009/02/17/post-dramatic-press-disorder/

Citigroup is in the process of laying off 72,000 workers–and hopefully Citi is not doing more than that, despite a recent memo from its Human Resources department.

An unfortunate typo in a Feb. 13th memo from Citi’s Human Resources Dept. emailed to staffers last Friday kindly tried to remind employees that Citi has a number of programs to help workers deal with misfortune, noting “other resources are available through the EAP link below.”

The memo then directs employees to Citigroup’s “Employee Assassinate Program.” :eek: :D LOL

Maybe they can't relocate some of the fired staff to one of their numerous tax haven shelters in Luxembourg, Liechtenstein, The Caymans or The Virgins. ;)

So much for transparency.
 
Merrill Lynch announced in London just a few minutes ago that a rogue trader has struck at its London office.
More news as it comes in.
 
As stated on the ASF "Zimbabwe thread": Susan Tsvangirai has been killed in the head-on car crash in Zimbabwe.
****A further report on the condition of the PM is expected very shortly.****
 
noirua said:
Merrill Lynch announced in London just a few minutes ago that a rogue trader has struck at its London office.
More news as it comes in.
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Investment Bank Merrill Lynch has been reported by the BBC to have 'lost a minimum of *AU$180 million'. The Foreign Exchange trader has been named by the BBC at the link below. They are investigating irregularities at its London Trading Operation.
http://news.bbc.co.uk/1/hi/business/7928943.stm
*=as announced by BBC News 24 as at least £85 million
 
Fifteen people have been killed - 12 pupils and 3 teachers - after a teenage gunman went on the rampage in South-West Germany, officials say.

Most of the dead are thought to have been pupils at the Albertville High school in Winnenden, north of Stuttgart.

The gunman, a 17-year-old former pupil, is also dead, police say.

The teenager, who was said to have been wearing black combat gear, was chased by police after fleeing the school into the centre of the town of Wendligen, where he barricaded himself in a supermarket . He died in the shoot-out 40km away from the High school.

http://edition.cnn.com/2009/WORLD/europe/03/11/germany.school.shooting/index.html
 
Cramer vs. Jon Stewart to go head to head

2007 - 2008 US Financials Ramper vs. Funny-as-all **** comedian to smash it out

http://www.usatoday.com/money/media/2009-03-11-cnbc-cramer-stewart_N.htm

NEW YORK — One of the most intriguing, and potentially important, interviews of the week will take place Thursday night without either a journalist or a newsmaker. Fans of finance and entertainment are salivating to see how CNBC's Jim Cramer holds up when he appears on Comedy Central's The Daily Show with Jon Stewart.
The host of Mad Money likely will have to provide the No. 1 business news network's most pointed defense yet against criticisms that, during the worst economic crisis since the Great Depression, it has been too hard on President Obama's stimulus package and too soft on CEOs.

Cramer also will have to answer for misguided stock predictions — including some last year urging investors to buy and hold Bear Stearns just before the investment bank collapsed.

"Here's a guy who may have his career on the line," says Bob Gold of public relations firm Bob Gold & Associates. "His credibility has been brought into question. NBC Universal (CNBC's parent) will have to draw a line. Trust is at stake."

anyway here's a cool Youtube vid to watch

Jim Cramer on Stock Market Manipulation

 

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