Team Obama Convinces Citigroup To Bail Out On Plane Deal
The executives at Citigroup have given in to request of the Obama administration to abandon their plan of purchasing a new $50 million corporate jet. The decision came 24 hours after the company declared the purchase a smart deal.
SN reported ( http://shortnews.com/ ) earlier that the company had intended to purchase the aircraft after receiving a $45 Billion taxpayer bailout.
According to sources, the Obama administration called Citigroup regarding the new jet purchase and in so many words told them - "Fix it."
So it is a good thing that they are not purchasing the jet. They should have never got the bailout money in the first place. But really? The government needs to step in and tell companies what to do? Is this why we gave them money? To run their daily operations? Don't get me wrong, its a good thing not wasting 50 million, but I just dont like the meddling. If we are bailing out companies, we should ONLY help the ones that can use the money in a smart manner - making their own decisions. Not companies that are going to waste it.
Do you mean to say that previous administrations would have done the same thing? I don't believe that is the case.
The reason I am impressed is because he saw this major corporation screwing the public and stepped in and did something about it. Very similar to some previous executives that were bailed out and then went on a company sponsored spa retreat, except in that case no action was taken.
And I don't know what was actually said in the conversation, but whatever it was it convinced these greedy bastards to go back on an obviously bad decision.
Now, whether or not the president belongs interfering with business operations - thats a different story. Regardless, this man has balls.
The only reason Obama did this, is because he is currently working to try to pass another Stimulus Package. You can bet that if incidents like this come to play, his package will not go through. Don't just think he was being Superbama. That is like saying Bush was just listening to "terrorists" with his Patriot Act wire tapping. lol
Your judgement comes to quickly, and without information. You don't know anything about me. If you would like to respond to my comment. Not to your guessing about my feelings for Obama.
No you can't say balls,like Jono pointed out they are trying to pass another stimulus package and incidents like this are to be contained.
Secondly i do believe Obama is part of the elite that is trying to ruin the USA and crash the economy as a whole,he is the front man,the charismatic leader ,the black sheep, the "messiah". Yes he may look good now but i read what hes policies are saying and so far it' the bush agenda but far worse since he is able to actually lie without getting caught.
I am not a christian but i do believe Barack Hussein Obama will be the anti-christ described in the bible.But this is my opinion well have to wait and see.
Wouldnt that make you a Christian (ok not fully)? If you believed as a Christian? Or is that the only thing from their religion that you believe. Hmm...Odd
I consider people who believe in any form of a god to me a little insane at best,I stopped talking to my invisible friend when I was 7.
I don't believe in the bible but i do believe that the bringer of doom for mankind will behave as described in that book. For me the bible is just a collection of fable that should help people behave good toward one another.
I am friggin impressed. That is too awesome. Why does that not surprise me?
If you did a little more research you would have found,Citigroup was selling two of its four other planes to pay for this one, its execs would be more efficient with a new jet. TEAM OBAMA is for conserving energy are they not?? Not to mention it had already signed a contract for the jet way before the bail out took place. Breaking that deal cost the bank millions in penalties. So exactly where was the gain and why are you so impressed. Obama just accomplish millions of our tax dollars being spent on absolutely nothing!
I won't even try making a comment as I can already tell that Obama will never do anything right in your eyes.
It actually is quite the opposite. In your eyes Obama can't do anything wrong. Bush never did anything right.
Do you remember when Bush got elected the second term, he went and played golf with his father and the media and the left wing nitwits reamed him a new butt hole for doing so. Yet Obama tells you the country is in the worst Finical shape since the great depression,then hops on the private jet, takes a 30 million dollar vacation and this was swooned over and referred to as a much needed rest. Comes back spends another 45 million on the inauguration and what do I hear. I wonder who made Michele's dress. He appoints a new "TAX MAN" who cheats on his taxes and how do you idiots word it and except it. Oh yeah.. Honest mistake. Can you Explain any of the above?
If you can't why do you expect others with common sense to except these things along with you?
My question would be, if they're selling their last 2 corporate jets, and Obama's told them to shelve this next purchase, what exactly is the function of Citigroup's subsidiary Citiflight?
Frankly, you guys are sounding a little scattered on why this is so horrible. Take a little free advice:
Go to bed. The Republican National Committee is undoubtedly working on a great, slick-sounding critique of Obama's action as we speak.
Tomorrow, they'll e-mail and fax it out to all the right-wing pundits and columnists. Just tune in for Limbaugh, or turn on Hannity, or read Coulter tomorrow -- then come back and tell us what they said as if you thought of it yourself. It'll all be OK.
That sounds like rush limb-haha type baah humbug rational. Do you have a reputable source for this inside scoop (non-blog)?
I personally don't care who it sounds like. You sound like a moron should that matter to me? Do your own research on this. Better yet use your brain for a minute. This jet was under CONTRACT to be purchased. Do you think they just let them back out because Obama told them they weren't allowed to get it. Your an idiot. We just spent money on nothing! Money they should have never had in the first place.
will also convince Citi to cancel their $400 million sponsorship of the new Mets stadium?
50 million for a jet and to think some of my tax money was going to them to pay for it. Meanwhile I am finding it to costly to fly my family coach on a commercial airline. Then to top it off as someone said, now they are paying for breaking a contract and I still go nothing for my money. What a bad investment I want my money back.
I don't mean to be rude but what is up with TEAM OBAMA in the title? It sounds like we are talking about Nascar not an American Presidential Administration.
when our british banks got their bailouts, it was reported that they threw parties worth five hundred thousand each. what is the point of a bailout when companies refuse to use the money to fix their problems.
"You sound like a moron should that matter to me? Do your own research on this. Better yet use your brain for a minute. This jet was under CONTRACT to be purchased."
Wow, pretty sizzled over Citigroup not blowing 50m in a new jet...
The jet can be returned minus deposit or they can turn around in sell it, they will likely make the call on the better deal. Your argument is -$50mil is better then $50m-$5m = $45mil?
I don't support the bailout myself, you can argue that. But this argument your making specifically: -$50m better then $45m, is quite poor.
Wow, pretty sizzled over Citigroup not blowing 50m in a new jet...
Oh not in the least your assumption couldn't be more wrong.
The jet can be returned minus deposit or they can turn around in sell it,
Glad you said it. My point was made to teh_epic when he said I am friggin impressed. That is too awesome. Well I personally do not think this is Obama being awesome and stated my reason why.
I made valid points *Citigroup was selling two of its four other planes to pay for this one, its execs would be more efficient with a new jet.* Obama is for cleaning up the earth is he not?
Then I said, "Not to mention it had already signed a contract for the jet way before the bail out took place. Breaking that deal cost the bank millions in penalties." Obama just accomplish millions of our tax dollars being spent on absolutely nothing!
Did this not happen? Seeing how you answered for teh_epic explain to me how this is awesome?
Your the one who said, This sounds like rush limb-haha type baah humbug rational. You took what I said and twisted it to fit your response. You are also the one who actually thought you knew what I was talking about when truthfully the response to the thread was not directed at you in the first place.
HENCE: "You sound like a moron should that matter to me?
I am not defending CitiGroup purchase of the jet nor its return. I was proving my point that what happen here was not a awesome feat. It was a mistake giving them the money in the first place. Can you grasp that concept yet or do you still have more to say?
Fresh on the heels of President Obama's exclusive interview with Arab TV network Al Arabiya, Gallup released a survey this afternoon showing respondents in the Middle East and North Africa giving U.S. leadership a dismal 15 percent approval rating.
I will simply reiterate, and say that I don't approve of the bailout myself.
But if a corp is going to accept tax payer dollars, they had better accept the scrutiny that will come with it.
This goes for banks, GM, Chryslter, Ford, and etc.
Under a bush admin this $$$ would have been gift wrap with a big bow and no strings attached.
The intent of the $$$ is the free up credit markets, period. Using it for buying new jets, aquiring & buying other businesses, or new furniture should be highly critisized.
That is exactly what Obama is doing with money Bush & Congress allocated and approved with no strings attached, putting strings on it.
It's like saying you know it's wrong, but new turd sandwich is better then old turd sandwich, so how dare you say no to new turd sandwich.
Unless there's a highly fuel efficient highbrid jet out there that burns willie nelson hemp oil, I say put both turd sandwiches away and fly commercial.
"Fresh on the heels of President Obama's exclusive interview with Arab TV network Al Arabiya, Gallup released a survey this afternoon showing respondents in the Middle East and North Africa giving U.S. leadership a dismal 15 percent approval rating. How do you explain that?"
Easy. You are misinterpreting the poll. http://www.gallup.com/ The 15% is the approval rating is for of US leadership in general and is based interviews conducted between 2006 and 2008. In addition, Obama is already helping out that number.
"After less than a week in office, Obama has already set in motion one action that some residents in the predominantly Muslim Middle East and North Africa region told Gallup would improve their opinions of the United States significantly -- the closure of the Guantanamo Bay detention facility camp in Cuba. And Obama has started discussions on another action that also will likely affect a number of residents' opinions -- the expedited withdrawal of U.S. combat troops from Iraq."
