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Hey, Citigroup-How about you lose the jet and apply the savings to paying the taxpayers BACK! There is no shame in flying commercial.
These institutions just don't get it. Retaining corporate jets, paying out BILLIONS in bonuses, throwing lavish parties all after borrowing money from the taxpayers. How is this different froma theif stealing your wallet?
"Everyone thinks their opinion matters. Don't argue with a nobody. A farmer doesn't bother telling a pig his breath smells like s***."
There is no difference really. This should also be an example of why TARP, and the other fancy slogans probably won't fix this mess, but rather make it worse. What the political hosebags in DC don't understand, is this isn't a liquidity crisis, but a balance sheet crisis. They can print all the money in the world, tax the heck out of us, forgive/backstop debt obligations until the cows come home. None of this actually addresses all of those bad assets on their balance sheets, killing thier investor confidence levels. It's also the reason why, after hundreds of billions of dollars have been given to these institutions, they're still not lending any of it. Instead, they're holding it as "cash" on the asset side to try and balance out the liability side, which is getting heavier and heavier as values continue to drop. I can't tell if, when values hit bottom and things begin to show signs of life again, if we'll just repeat ourselves again and start pumping that money back out into the market to anyone who can put their X on the dotted line in an attempt to "pay back" the taxpayer loan "even though they could just wire the funds back to the fed". Stupid is..as stupid does.. I'm not suprised in the slightest that bonuses, and G5's are still being issued. I think this is one time, where the journalist community should really hound every step these guys make.
