Who said - Pigs can't fly.
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.
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.
.
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.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.
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.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.
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.
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.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.
UK Prime Minister Gordon Brown has suggested the World is heading for "depression": http://www.timesonline.co.uk/tol/news/politics/article5660573.ece
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
A No 10 spokesman said that Mr Brown's use of the word "depression" was not deliberate. "And he does not think it."
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.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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