Tuesday, January 27, 2009

Citibank missed an opportunity...

High-flying Citigroup executives, trying desperately to hang on to their new, $50 million luxury jet, took heavy flak yesterday from the White House and Congress after The Post revealed how the beleaguerred bank is blowing taxpayers' rescue funds.
Citigroup should have responded thusly:

House /# of Members / Average Contribution/ Total Contributions
Democrats... 111........... $4,316............ $479,150

Senate # of Members/ Average Contribution/ Total Contributions
Democrats.......... 32 ..........$42,060 ..........$1,345,941

Top Recipients
Senate Obama, Barack $543,430
Senate Clinton, Hillary $425,967

Citibank should then issue a press release stating that if the US Federal government is stupid enough to give them $45 Billion in "public support" and still claim that the entity is a private entity...they should expect the money to spent as they see fit.

I don't care if Citibank goes out and purchases a whole fleet of icecream trucks. The simple fact of the matter is that private industry in this country and around the world should be allowed to fail (in some cases...encouraged). They learn nothing when repercussions of asinine legislation and diversity nonsense comes due if they don't have to settle up.

You're thinking I'm naive in that the economy stability around the world would tip. Sure it would...and IT SHOULD. Otherwise, these follies in feel good sub-prime monopoly money loans will only stay with us as banks are encouraged to pour this "bail out" into similar endeavors. They're throwing stolen money after bad...and the taxpayer is left mugged on the sidewalk.