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OneMom

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Tag Archive: Bailout

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Citigroup grounded

Score one for the Obama administration. Yesterday it was reported that Citigroup was purchasing a $50 million luxury jet from France (12 people could fly in “comfort”). President Obama’s administration contacted Citigroup executives and told them to “fix this”. Today, Citigroup released a statement saying they have no intention of taking possession of any new aircraft.Actually now they are reducing their fleet from four jets and one helicopter down to two planes. Don’t you feel badread more…

Date: 27/01/2009 Author: Tags: , , , , Category: Economy, Politics Bookmark: Permalink
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Remember John Thain?

On December 8th and 9th of last year, I wrote about then Merrill-Lynch CEO John Thain (he’d been CEO less than a year at that time) wanting a $10 million bonus. The next day he caved to public pressure and said he couldn’t possibly accept a bonus in these tough economic times. Well, it appears that Mr. Thain was a very busy little weasel at the end of the year, shoveling billions of dollars in bonusesread more…

Date: 22/01/2009 Author: Tags: , , , , , Category: Economy, Money Bookmark: Permalink
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Citi Group hits taxpayers twice

On November 13, 2008, Citi Group applied to become a “bank holding company” which would allow them access to Federal Government bailout money (our money). Eleven days later, Citi is receiving a $20 billion cash infusion from the government (our money), and they are raising interest rates 2-3 percent on 20% of their credit card holders. The rich get richer with both hands in our pocketbooks, and “we the people” apparently can do nothing to stopread more…

Date: 24/11/2008 Author: Tags: , , , Category: Economy Bookmark: Permalink
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GMAC wants to be a "bank"

One day after the Big Three auto makers left Washington DC in their private jets after being told they wouldn’t be getting any bailout money (at least not yet) from U.S. taxpayers, the financing division of General Motors – GMAC – has filed to become a bank holding company. Other finance companies have done the same thing, because being a bank holding company is all it takes to be considered a bank and thus be eligibleread more…

Date: 20/11/2008 Author: Tags: , , , , Category: Economy, Politics Bookmark: Permalink
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Begging in Style

Most of you have heard about the heads of the (not so) Big Three automakers arriving in Washington to beg for billions of dollars of our money on three separate private jets. They couldn’t even share one? Of course Ford’s chief can’t even be bothered with living in Michigan, and uses his private plane to commute to his job from Seattle! One of the chiefs whined that they can’t give up their $20,000 a flight planesread more…

Date: 19/11/2008 Author: Tags: , , , , Category: Economy, Politics Bookmark: Permalink
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Eager Beaver Builders – Michigan’s Upper Peninsula

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