Citigroup's new wings

FIX IT!

 

FH, the government can regulate industry through legislation, not a phone call from the White House.

This is the first in what I fear may become several problems with the bailouts.

 

If they want the government out of the board room, they don't need to be asking for public funding for their businesses.

 

They should sell it on eBay.

 

Legally, does a president even have the authority to do that?

 

So you think it's OK for the White House to pick up the phone and tell Citigroup how to run its business because it got public funds in a bailout? That what you're saying 'beetus?

 

He put pressure on them not to do it, which I have to problem with. Don't you think it's disingenuous to ask for a bailout from people already suffering and financially strapped to turn around and buy another plane?

 

You have "no" problem with it?

If you'll read my post above, I said Citigroup is absolutely wrong for doing it, but the White House has no business here.

 

Not if owning the plane can be proved to be a cost savings over flying their execs commercial.

 

Citi already has a fleet of corporate jets. Under their current circumstances, the purchase should have been dropped. Telling Citi to do that shouldn't have been necessary, yet it was.

There's been way too much of the "business as usual" mentality by executives in the financial industry throughout this mess.

 

Really? Where were you when everyone in Washington was DEMANDING that the automakers basically take a vow of poverty and the UAW had to "reduce" its salaries to meet those of the FOREIGN AUTOMAKERS who do everything short of illegal to keep unions out of their plants? Did you feel the same way then? I don't recall you saying anything then.

 

But what's the proper way to do it? A call from the White House isn't it, in my opinion. I'm pretty sure they've got their hands full with much more important things.