Tuesday, January 27th, 2009 | Author: markross
Hi everyone, Well, apparently, the circus is still on tour. The government gives Citigroup 45 billion in tax-payer dollars, now Citigroup is purchasing a 50 million dollar corporate jet; from The French. http://www.nypost.com/seven/01262009/news/nationalnews/just_plane_despicable_152033.htm The interesting thing is that I am actually not really angry with Citigroup; I’m actually not surprised; after all, we need to consider how they got in this position, in the first place. Mark
Wednesday, 28. January 2009
Well, this is certainly good news, from my point of view…
Due to public pressure, and (reported) pressure from The White House, Citigroup cancelled the purchase of this 50 million dollar jet.
http://news.bbc.co.uk/1/hi/business/7855554.stm
This is “absolute” evidence that public opinion, when joined together, can change policies.
I am very pleased that the people, and The White House (in this case) have spoken.
Mark
Wednesday, 28. January 2009
There is also a real downside to companies (in a capitalistic society) having to fold to public and governmental opinions, and intervention, however, I will need to elaborate more on this later.
The long and short of it is…next time, file bankruptcy.
Mark