This is what bailout money pays for…

HB-JSO Dassault Falcon 7X (MSN12)

Image by John Creasey via Flickr

Yeah. Betcha those people that thought that the financial bailout was going to prevent financial ruin are thinking twice. Oh yes! The world economy is going to go to ruin, because these corporations don’t get their money to stay afloat?
What a load of horse dung. And look where it’s landed the taxpayers. We’ve already spent $350 billion and the rest will probably be released with little to no oversight or catches. And corporations like Citigroup are laughing all the way to the bank.
In their brand-spanking-new Dassault Falcon 7x.
Oh yes, you didn’t know they bought one of these babies, eh? It only cost a measly $50 million. And they’re trying to offload their two older model Dassaults valued at $27 million a piece. All the while claiming that if they didn’t pay, they would be accepting millions in penalty charges and that the jets are more fuel efficient. Maybe it’s just me, but it’s like someone telling me that they downgraded from a Hummer H2 to a H3 and they’re saving loads on gas now. Personally? I don’t think that Citigroup’s senior management’s time is worth $50 million. Not in this day and age, and definitely not while claiming to need the taxpayers to back them up.
What’s worse in all this is that people in Congress actually let this happen. Citigroup claims that TARP money will not be used for this purchase, but when you’re a financial institution, money can be shifted around and no one is the wiser. Not to mention, who’s counting those zeroes on the end now that they got almost $50 billion from TARP.
It’s ludicrous that as Americans, we allow any of this to happen with no catches. Politicians are just as much to blame as poor corporate management in a time when layoffs are at an all time high and the end doesn’t seem to be on the horizon.

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