Article: "High-Flying Citigroup Grounds Plans for $50M Jet."

The link: http://abcnews.go.com/Business/Politics/story?id=6740011&page=1

"The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France. " (Link left intact and is not mine.)

You know, you gotta love Citi and all fat-cat bankers. Here people are losing 30-35% of their life-savings and they're getting $50m jets. Of course, the Obamessiah picked up the phone and complained.

Citi, to its credit, did the right thing and scrapped plans for its fancy jet. But I'm willing to bet that they didn't "cave-in" because it was the right thing to do: I'm willing to bet that they "caved-in" because of how it would look if they didn't.

And they got billions of our tax dollars to bail out of trouble. But they've learned nothing: this jet fiasco simply proves that.

Remember when the auto execs first flew to Washington to ask for their slice of the bailout pie? In the ensuing firestorm, they drove the next time. Well ... other people drove them in hybrid vehicles. A few of the execs actually got behind the wheel for a part of the trip (a short part of it.)

Then there was AIG paying for a posh party for its execs after the bailout. When the press got wind of it, they cancelled those plans.

And now Citi says "no" to its fancy jet. Not because it was the wrong thing to do (which it is ... it is the wrong thing to do) but because of how it would look. And because the Obamessiah told them so.

The conclusion, based on this extremely limited data set is that the people who drove the US and the world to the brink of depression, simply don't care. For them it's about power and money.

Does anybody remember when Mr Paulson said that the Fed didn't have to explain what it did with the first part of the bailout money? $350 BILLION is just gone, folks. GONE. We've no idea what they did with it or where it went. And the Fed has said that we don't have the right to know.

(H/T: Drudge Report)