Plane hypocrisy and pseudo capitalism

News broke this morning that Citi Group , despite all of its troubles, has decided to move forward on the purchase of a brand new $50,000,000.00 private jet. This is the same company who a few months ago was on the brink of collapse; the same company who in the last two years (Jan 2007-Jan 2009) has seen its stock price go from roughly $55/share to $3/share; the same company who has already squandered roughly $45,000,000,000.00 in government bailout money. Look at all those zeros, both in the dollar amounts and in leadership of the distressed bank. Certainly no one can question Vikram Pandit's intellect (he has PhD in Finance from Columbia), however we can and should question his judgment.

In the face of a global economic crisis the level of which we have not seen since The Great Depression could anyone make an argument for spending $50,000,000.00 on a private jet?? Especially by a company who is "on the dole"?? Why is that banks only rally around the cries of free enterprise and de-regulation in boom times, but are always the first ones in line with their hands out when things go bad? They throw around terms like "systemic risk" in order to gain entrance in to the federal reserve , line their pockets with cash from the government coffers and go on to spend like drunken sailors. And yet somehow no one holds them accountable. How is it possible that to date we have no accounting as to where 45,000,000,000.00 dollars of tax payers money has gone? Well I guess after today we may only need to know where 44,950,000,000.00 has gone.

Wall Street and corporations like Citi are the penulitamte in hyporcisy. They are pseudo-capitalists if you will. It is as if the mission statement of the company is "privatize gains, socialize losses"; and I for one am sick of it.

They are that friend/person we all know, who happily lives off unemployment and uses that money to go on vacation or buy a new car. If Mr. Pandit thought the acquistion of such a lavish mode of transportation was necessary for the continued success of Citi (I almost got through that without laughing), then maybe he should have picked up the tab himself. After all during the boom times Pandit has made hundreds of millions of dollars, the only problem is that would fly in the face of the aforementioned mission statement. It appears we have turned a famous phrase on its head, today it is "ask not what you can do for your country but what your country can do for you. ". And so we continue, feeding the crocodile......

I believe.....ramblings from inauguration day

As a student of history I fully appreciate and understand how monumental the inauguration of Barak Obama is, I do however feel that America is about to receive a big dose of socialism European style. So I felt today was as good a day as any to take inventory of, and "formalize" my own beliefs:

-I believe that no one should get a free ride. There is nothing more un-American than a free ride.
-I believe in a progressive tax, it is the only way this country will work; but I don’t think we should ever say the rich need to pay their fair share. If anyone needs to pay more it is the bottom 50% not the top 50%.
-I believe the most terrifying words in the English language are “ I’m from the government and I’m here to help” and I also believe liberalism is the disease, common sense is the cure.
-I believe that all men are created equal and that everyone should be "judged by the content of their character not the color of their skin”. To that end affirmative action is wrong.
-I believe the government is horribly inefficient, and bloated. The less we ask them to do the better.
-I believe no government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this Earth.
-I believe it means more if you earn it and that charity works better than government hand outs.
-I believe a lot of civil servants have lost their way, and went from being underpaid to overpaid in the last 10 years. Their sense of entitlement irks me. When I was growing up, I knew a lot of kids whose parents were cops and teachers and none of them lived in a big house, drove expensive cars, and belonged to country clubs…let alone all three! Maybe we need to go back to when they were actual civil servants, when they did not get paid, then lets see how many empty suits run for office. Additionally that would solve all budgetary problems.
-I believe that individual liberties must be protected, and the cost of living in a free society means you don’t get to impose your morality on me, especially in hotly contested issues (this is directed at you pro lifers).
-I believe that literacy is a right and parenting is the most important job on Earth. No one is perfect, but once you have a kid realize your life is not yours anymore. Your sole reason for being is to love, protect and raise that kid right. Stop asking others to do it for you.
-I believe indifference is the greatest sin.
-I believe money isn’t everything but will freely admit life is easier with it than it is without it.
-I believe that a government big enough to give you all you want is big enough to take all you have. And certainly do NOT believe in a government that protects us from ourselves.
-I believe the tolls on the Mass. Pike are illegal. Moreover, I believe we should never ever pay anyone to do a job in which they can be replaced by a bucket.
-I believe laughter truly is the best medicine. We should all love/laugh hard and often. The world would be a better place.
-I believe friends and family are the most valuable commodity on Earth.
-I believe the side that is right will eventually win; good will triumph over evil.
-I believe that all glory is fleeting.
-I believe most people wonder if their life made a difference; I don’t think the men and women of the United States Armed Forces ever have to ask that question.
-More than anything I believe in America.