Thursday, March 19, 2009

Your new bailout outrage

So now that the AIG bonuses scandal has only moderately damaged the republic and our leaders have rallied to move forward on some real ass reaming legislation on bonus payments, what new scandal involving millions will distract us from bailouts involving trillions? What's that Citi, you want to be the next to receive the full brunt of the diesel powered outrage machine, replete with stainless steel bone grinders, a blood sluice, and flame decals? Then go ahead, remodel your executive offices for $10 million, I'll gas up the machine. We call it 'the Beast'. It ate John Thain.
Citigroup Inc. plans to spend about $10 million on new offices for Chief Executive Officer Vikram Pandit and his lieutenants, after the U.S. government injected $45 billion of cash into the bank.

Affidavits filed with New York’s Department of Buildings show Citigroup expects to pay at least $3.2 million for basic construction such as wall removal, plumbing and fire safety. By the time architect’s fees and expenses such as furniture are added, the tally for the offices at the bank’s Park Avenue headquarters will be at least three times as high, according to a person familiar with the project who declined to be identified because he’s not authorized to comment. Citigroup said the project will help it save money over time.

Pandit, criticized by lawmakers over Citigroup’s use of U.S. bailout capital, canceled an order for a company jet in January and told Congress on Feb. 11 that, “I get the new reality and I’ll make sure Citi gets it as well.”
Whoops, looks like Vikram only 'gets it' when he thinks people are watching. When he thinks everyone is too busy watching AIG get flayed alive, he moves to remodel the executive offices. Silly Vikram, the eye is lidless, it never sleeps, and is made of hellfire. It sees all.

I think you need an outside voice on this, someone to tell you when your actions seem a little too gauche and tinged with hints of "fuck the poor, I'm getting mine". Someone to point out when your actions really throw a big middle finger to the government an populace that had to bail out your failure.....like say by remodeling executive offices or handing out bonuses to the division that bankrupted the world. You know, to avoid these PR snafus. A CEO of the Common Sense Division. I figure you pay me $600,000 a year, plus 10% of whatever stupid thing (Lear jets for the children of your CEO's or a chocolate water fountain at the Citi Aspen retreat) I talk you out of doing. It'll more than pay for itself. Deal?

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