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Wednesday, February 4, 2009

I would really like to know what the executives of these companies receiving multimillion dollar bailouts are thinking when they buy $1,000 trash cans or $13,000 rugs for their private jets.

"I've worked hard, I deserve it."

"#$%* them all!"

"Suckers! HAHAHAHA!"

"What they don't know can't hurt them . . . "

"The kids get carsick in the Maserati. Best take the 747."

I'd really love to know.

The following is from an article by NY Times columnist Maureen Dowd.

Companies that have gotten bailouts continue to make a mockery of taxpayers.

Until it came to light Tuesday, Wells Fargo, which received $25 billion in federal funds, was blithely planning a series of “employee recognition outings” to Las Vegas luxury hotels this month.

As ABC reported, Bank of America took its $45 billion in bailout funds and sponsored a five-day carnival outside the Super Bowl stadium, and Morgan Stanley took its $10 billion in bailout money and held a three-day conference at the Breakers in Palm Beach. (Morgan Stanley had also still planned to send top employees to Monte Carlo and the Bahamas, events just canceled.)

The New York Post revealed that Sandy Weill, former chief executive of Citigroup, took a company jet to fly his family for a Christmas holiday to a $12,000-a-night luxury resort in San José del Cabo, Mexico. No matter that the company just got a $50 billion federal bailout and laid off 53,000 worldwide.

The interior of the 18-seat jet, as described by The Post, is posh, with a full bar, fine-wine selection, $13,000 carpets, Baccarat crystal glasses, Cristofle sterling silver flatware and — my personal favorite — pillows made from Hermès scarves.

Aux barricades!

1 comments:

emjay. said...

hey Karin,

thanks for the tip, that actually sounds really cool (I'm interested in getting my masters in midwifery) where can I get more info on the program?