Citigroup Grounds Plans for $50M Jet; Obama Aide Called to Complain About Jet

[dkf]

By CHARLES HERMAN and JAKE TAPPER
Jan. 27, 2009

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.
The bank used TARP funds to purchase a new corporate jet for executives.

The decision came 24 hours after the banking giant, which was rescued by a $45 billion taxpayer lifeline, defended buying the state-of-the-art Dassault Falcon 7-X -- one of nine to be flying in U.S. skies -- as a smart business deal.

The jet, the epitome of corporate prestige and privilege, can carry 12 passengers in elegant comfort.

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."

Earlier on Monday, White House spokesman Robert Gibbs said made it clear that the president disapproved of the deal.

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

[poverlay]

1. LOVE HIM ... so much...n/t

[Sanity Claws]

2. I'm impressed!

That is a great way of handling the problem.

[TwilightGardener]

3. So they thought my tax dollars should be used to shuttle them around in style?

Beggars can't be choosers--time for business class on Delta, boys.

[blueclown]

4. It's past time to nationalize these clowns.

After we do that, we can limit these types of expenses.

[Lasher]

5. Junior would never have done that in a thousand years.

He wouldn't have done such a mean thing to his base, the 'haves and the have mores'. Besides, that plane would have come in handy for GOP fund raising and campaigning two years from now.

[predfan]

7. That's exactly right. We've been through so many years of "hands- off" government,

letting the greedy do what they like with our money. Hopefully that's going to change permanently.

[LynneSin]

14. Junior would have called them and asked "Why just one plane?"

:grr:

[ComtesseDeSpair]

6. I Knew My President Would Do Something About This

Isn't it great to have a grown-up in charge?

[getthefacts]

8. Wow!

Fresh air... an administration who actually cares about our money.

[Terran]

9. a "smart business deal"...

These people do not inhabit the same universe as the rest of us.

[NYC_SKP]

10. Eat The Rich.

I don't care how they're prepared or if they're of questionable nutritional value.

:mad:

[ClarkUSA]

11. President Obama is a president only a liberal/progressive populist can really love.

No other presidential candidate would have shut this deal down so firmly because the rest of them are/were in the pockets
of Big Money Lobbyists from the banking industry. Only Barack was funded mainly by The People.

:woohoo: Obama Is 44 :party:

[Bake]

12. So now they're only buying a $30 MM Gulfstream ...

Hey, they saved the taxpayers $20 million ...

Bake

[backscatter712]

13. "FIX IT!" GOBAMA!!!

If those fat-cats really gave a shit about the economy and the financial well-being of their businesses, they would fly coach like the rest of us.