Disgusting!!

This will be very short, but I saw this and it is incredibly disgusting. Citigroup just spent $50 million on a new corporate jet. That was our money and I expect heads to roll over this. We should all expect heads to roll. There is no sanity to this.

http://www.nakedcapitalism.com/2009/01/your-tax-dollars-at-work-citi-buys-new.html

Give Them Money And They Will Lend

Okay it is late and I am tired. The punch line is that the promised benefits of TARP were increased lending and, perhaps, lower rates. The proof is that the banks that got the most money are lending less, not more. I am not blaming them. They are in dire straights and doing what they should in their condition. I am blaming Paulson and the bunch for not putting conditions on the money infusions. You may be thinking Paulson is just stupid, but he is a former head of Goldman Sachs and from their perspective he is brilliant. I do think his best interests have always been his old friends at Wall Street. Meanwhile, those of us living or working on Main Street are continuing to be screwed. I have no respect for Paulson, and that is a vast understatement.

http://www.nakedcapitalism.com/2009/01/your-tax-dollars-at-work-citi-buys-new.html