CITIGROUP BUYS VERY EXPENSIVE JET

EASY READING CULTURE OF LIFE NEWS:  CITIGROUP BUYS VERY EXPENSIVE JET « Culture of Life News 2

Citigroup just purchased a tremendously expensive private jet.  This is on the heels of begging, yet again, for another $45 billion bail out from you and me and everyone who has no private planes, much less, jets.  This latest outrage doesn’t surprise me.  No one is being arrested for vandalism, fraud and theft.  

 

JUST PLANE DESPICABLE – New York Post

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.

We will tour this lovely jet later.  First, let’s see what this super-spending organization is really up to:

 

Bloomberg.com: Worldwide

Citigroup, Bank of America May Look ‘Nationalized’ 

 

The U.S. government’s decision to pledge billions of additional dollars with strings attached toCitigroup Inc. and Bank of America Corp. may be nationalization by another name, according to former bankers and regulators.

Faced with pressure from lawmakers, banks have shaken up management, eliminated executive bonuses and staff and canceled conventions. They’ll be forced to do monthly reports on how they’ve boosted lending while slashing quarterly dividends to one cent a share for three years.

“When the Treasury tells a bank to pay a penny a share vs. its old dividend, you know who’s calling the shots,” said Jon Bruss, a 40-year industry veteran and founder of Hartland, Wisconsin-based Fortress Partners Capital Management Ltd., which invests in banks. “It may not be de jure nationalization but I think it’s de facto nationalization.”

 

I remember when the odious Pelosi wanted not just a private plane, but a corporate private jet that could fly nonstop across the nation.  A number of liberals online supported this stupid spending spree.  I got emails from people complaining that I should not stop this private jet stuff because our rules need to be kept safe in these stupid bubbles.

 

So we get to struggle around in increasingly annoying and difficult to use public systems while the gnomes and political money bags fly private.  Why on earth do any of these people deserve private jets?  They can fly public and eat it.  Especially if they are doing this on my dime. Now, let’s visit Dassault Systems:

 

Dassault Systemes: Product Lifecycle Management PLM and 3D Simulation Software Solutions

picture-91

 

Dessault has an extremely annoying opening page to their web site.  I couldn’t locate their aircraft division so I used google.  The page I got was a lot better than the opening page.  

Dassault Falcon Aircraft / Aircraft

picture-104

 

 

Combine Dassault’s fighter jet prowess, its advanced research capabilities and its passion for innovation and the result is a breakthrough design and extraordinary capabilities.

The Falcon 7X will fly faster, farther and higher than any Falcon we have ever built. Yet its agility and versatility will give you unequalled performance, both in the air and on the ground.

The seven defining features of the Falcon 7X are:

  1. High Speed and 5,950 nautical mile nonstop range.
  2. Uncompromising cabin comfort.
  3. Unprecedented value.
  4. Innovative wing design and controls.
  5. Unmatched reliability.
  6. Dassault’s signature three-engine design.
  7. Unbeatable versatility.

As you review the Falcon 7X information on this site, take note of how much capability has been designed into this airplane. Then compare it with any other corporate jet in the sky. Nothing else comes close.

 

Nice planes.  Wish I had one.  But I am not on welfare like Citigroup.  Why didn’t these guys hold a garage sale and raise money this way?  Instead, they are still on a buying spree.  After all, ZIRP is bailing them out.  So what, if I get 0% on my savings?  They get to fly high.

 

Here is a shot of the bathrooms:

picture-114

 

Who does Citibank’s executives think they are?  Saudi princes?  HAHAHA.

 

C Quote – C Stock Quote – Citigroup Inc. Stock Quote – C Stock Price

picture-121

We gave $45 billion.  They will fly off into the sunset.  Maybe Atta’s ghost can hijack the jet and fly it into the Citigroup building in Manhattan.  This is so ridiculous.  Citigroup stock, despite sucking down billions from the Treasury, is still a penny stock.  IT is going up but it is still a penny stock.  

 

Lehman’s gnome, Fuld, is being forced to cough up his bonus he got for bankrupting Lehman Brothers, and he now has to pay for all the curtains and decor he bought one month before falling off the cliff.  These guys have big eyes.  They are all Emma Bovary cross dressers.  

Emma_bovary_cant_get_loans_2

Emma Bovary Can’t Get Any More Loans

This morning, it is time again to review a large number of Federal Reserve graphs put out by the St. Louis branch. The entire planet earth has been washed over with a huge tsunami of easy lending which triggered vast, global inflation. Money values and systems operate very much like hydraulic systems. This is actually rather strange when we look at it realistically. The tsunami of ‘money creation’ due to radically increasing the amount of debt owed to the future has destabilized all economic systems from the largest empires to the smallest enclaves. The people responsible for this instability understandably refuse to understand this because it means they must stop doing all the wrong things. Things, that make them very happy. So they do not want to stop. Looking at these many graphs helps us see what has gone wrong.

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16 Comments

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16 responses to “CITIGROUP BUYS VERY EXPENSIVE JET

  1. leavingtheoffice

    Citi execs act like mafia bosses because they are mixed up in that sort of thing. When they bought Banamex from the biggest cocaine dealer in Mexico it was surely an aggressive move to become THE international laundering enterprise.

    The arrival of the Chinese New Year got me thinking that 1913 was also a Year of the Ox. What will the banksters have in store for us this year? In that light, I can’t wait to hear what Elaine has to say about Davos in the coming days.

  2. GK

    Here is the Coup D’etat: The Federal Reserve central banking crime families want to take over the government task of regulating ALL financial institutions.
    .
    This is like giving Standard Oil the job of regulating not just the oil industry but all energy industries such as natural gas, renewable solar and hydroelectric dams.
    .
    Homosexual Tribal members like Barney Frank will do his job of destroying our constitution so the young boys keep coming.
    .
    http://www.washingtonpost.com/wp-dyn/content/article/2009/01/25/AR2009012501686.html
    .
    “Congress is moving to create strong new oversight of the financial sector
    that would likely give the Federal Reserve authority to examine the
    workings of a wide range of companies in an attempt to address one of the
    ey failures that led to the financial crisis. But the initiative, which could be
    finalized in the House by spring, is raising concerns about whether it would
    muddy the Fed’s traditional mission and concentrate too much power in a
    single federal body. The legislation envisioned by House Financial Services
    Committee Chairman Barney Frank would put the Fed, or less likely another
    government agency, in charge of protecting the stability of the entire
    system, Frank said. An abundance of federal agencies regulate the financial
    industry. But no one agency is responsible for understanding or containing
    risks affecting the financial system as a whole. In fact, none even has a
    complete picture of financial markets. Under Frank’s legislation, the new
    regulator would be given the power to gather information about the inner
    workings of banks, investment firms, insurance companies, hedge funds
    and any other entitiy big enough it creates the risk of a systemic collapse.”

  3. Paul S

    I don’t blame the Citi execs for buying a luxury jet. Just thank your lucky stars they didn’t decide to buy a fleet of 7 luxury jets(one for each day of the week). My only question is where these heroic managers are going to go on their next weekend spa retreat and is Neel Kashkari invited. These guys would not pull this stuff if they thought there would be consequences. Give them credit, these guys have been right so far. This is because we have a number of MC’s who belong in prison. And of course some former members of the Bush administration also belong in the slammer.

  4. Bear of Little Brain

    GK:
    If you’re tracking Gordon Brown’s speeches, he is saying very similar things, but on a global scale. Once the Banksters have that level of inside information, there’s no limit to what they could do. All in all, this seems to be the fascist business model being implemented on a grand scale.
    ~
    BTW, “Crash” is intending to meet with a number of the heads of major banks prior to the next G20 meeting:
    “He said that he and Alistair Darling, the Chancellor, would be inviting bank chief executives for talks before the G20 conference on how to handle de-leveraging.”
    How cosy.
    http://tinyurl.com/d9zvnq
    (London Times. WARNING: Contains offensive image of capitalist running dog.) Also from the same article:
    ‘ “As I said in Harvard ten years ago, we need an early warning system so that international financial flows are properly monitored,” Mr Brown said in a speech this morning.
    “We must create a framework for the international governance that we currently lack. We must consider at a global level the regulatory deficit. For a decade I have said that the current patchwork arrangement is inadequate.” ‘
    Well, he had ten years to make a start on it here. So why didn’t he?
    And why does “Harvard” crop up so much in connection with all this stuff? Oh, just harmless invites to give the occasional chummy lecture, no doubt…
    ~
    Order out of Chaos. Love Big Brother.

  5. Bear of Little Brain

    Correction:
    I said “capitalist running dog”. Make that “Stalinist running dog”. Or both. Ugh.

  6. Bear of Little Brain

    Geithner confirmed. Slime is Truth. Dishonesty is Patriotism. Love Big Brother.

  7. emsnews

    Dearest Bear of More Brain than Brown, I was in the middle of writing a huge article about that speech! But thanks for posting it. My ‘Free Trade Follies Fun’ article expands on all this.

  8. Bear of Little Brain

    Elaine:
    Take great care. That speech may be on YouTube. It probably will not carry any health warning. So be warned: any exposure to Gordon Brown of more than ten minutes is known to induce the loss of the will to live. (There’s now an entire nation as ‘living’ proof of that.) Others have simply gone mad, e.g., Alistair Darling.
    ~
    Getting late here. Will catch up on the “huge” (gulp) article tomorrow. :-)

  9. Duski

    “But I am not on welfare like Citigroup.”
    -
    Once again you made me laugh out loud. Although it is about reckless spending of other peoples money…

  10. GK

    BoLB, great find!! You made my day!

  11. PLovering

    Bear, Harvard involved as follows (Market Skeptics.com)
    .
    The roots of this most wicked experiment are traceable to the appointment of Alan Greenspan as Chairman of the Federal Reserve and then to academia – Harvard – where Robert Barsky and Lawrence Summers co-authored an academic research paper in the 1980s titled, Gibson’s Paradox and the Gold Standard . The “elevator speech” of what the paper examined was the co-relation between bond prices, inflation and the price of gold and, by extension, theorized that interest rates could be driven down [or kept low] – without sacrificing the currency – in the face of and despite profligate monetary policy so long as gold prices declined or did not rise.

  12. GK

    PL, F******* brilliant. I need to research that paper.
    .
    http://papers.ssrn.com/sol3/papers.cfm?abstract_id=283338

    .
    http://www.goldensextant.com/Gibson%27sParadox.html
    .
    This paper provides a new explanation for Gibson’s Paradox — the observation that the price level and the nominal interest rate were positively correlated over long periods of economic history. We explain this phenomenon interms of the fundamental workings of a gold standard. Under a gold standard, the price level is the reciprocal of the real price of gold. Because gold is adurable asset, its relative price is systematically affected by fluctuations in the real productivity of capital, which also determine real interest rates. Our resolution of the Gibson Paradox seems more satisfactory than previous hypotheses. It explains why the paradox applied to real as well as nominal rates of return, its coincidence with the gold standard period, and the co-movement of interest rates, prices, and the stock of monetary gold during the gold standard period. Empirical evidence using contemporary data on gold prices and real interest rates supports our theory.

  13. Henry Liu has a new article about the ‘repo ‘ market, i have trouble reading it, but it seems there is a new problem there, and i suspect it is connected to the bulk of the derviatives beast, interest rates ‘swaps’.

    http://henryckliu.com/page180.html

  14. emsnews

    Oh, goodie gum drops! I will read it, Ziff.

  15. Pingback: Jet Setting DNC Wants Newer Private Jets « Culture of Life News

  16. Thank you! just what I need to read right now…

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