Flight of the vanities!

I have sat at the computer for the last 15 minutes trying to compose this blog entry. I just don’t understand America so maybe you can help me. Citigroup, my personal banking institution, got a government bailout and at no point after the AIG bank retreat scandal and the Detroit big wigs arriving in Washington in their separate private planes, did anyone inside the penthouse offices of Citigroup think that not canceling the order on the 50 million dollar private jet was not a good idea?

I mean I know the plane was clearly ordered before the financial collapse but really, you didn’t cancel the order. Ok honestly at this point none of these guys can surprise me anymore.

Window or Aisle seat?

It seems that the realities of the various situations are starting to hit home for some of those with big pockets. Last week Richard Wagoner, CEO of General Motors, appeared before Congress. He was joined by the CEO’s of Ford, Alan Mullay, and Chrysler Robert Nadelli as they sat with top hat in hand and requested a financial bailout t the sum total of 25 billion dollars. Too bad Congress saw them coming...literally.

The three big wigs all arrived in DC via their own separate private jets and they were immediately roasted by the panel of Congressmen like in flight peanuts. With the many transgressions of AIG and the egg on the face feeling many people on the hill have behind that fiasco, it was made clear very quickly that this was the very type of behavior that was unacceptable.

Well Richard Wagoner clearly got the message and his office has announced that when he returns to Washington next week it will not be in a private jet. No word on the other two of the big three but my hope is that they follow example.