Good Morning America aired a segment today about CitiGroup purchasing a $50 million dollar corporate luxury jet using TARP money.  This is absolutely absurd!  Where is the oversight?!?!?!  CitiGroup claims that they are using the proceeds from the sale of their older corporate jets to buy the new one.  The new aircraft is a Dessault Falcon 7x, which boasts a 5,950 nautical mile range, state of the art cockpit, and a breakthrough environmental control system.  I only have three questions.  1. Who do they think they are?  2.  Why are our elected officials in Washington, just ignoring this slap in the face?  and  3.  When are “We the People” gonna stop taking it in the ass?

UPDATE:  CitiGroup just announced that they will refuse delivery of their new $50,000,000.00 luxury jet.  Thank you White House!

It’s not like I am suprised by any stretch that on January 16th, 2009, Circuit City© announced it would be closing all of their U.S. operations.  Circuit City© has always sucked in my opinion. Their prices have always been slightly higher then the other boxes. As stated on their webiste, they will be liquidating all of their assets beginning on January 17, 2009. So, I went by today, just to see if they had any good deals. And again, I was not shocked to see that, yes they were liquidating their inventory, and that they had marked up the prices, just to give the idiot consumer a 10%-30% discount. So in reality, you end up paying the original price for the item. There must have been 50 people in line waiting for as long as it would take just to fell as if they were saving some money. For instance, they had a Western Digital External USB 1TB MyBook Essential Edition listed at $149.00. Take off 10%, which is $14.90, then add tax, which is 8.25% or $11.06, giving a grand total of $145.16. Now, If I go directly across the street to Best Buy ©, they have the exact same Hard Drive on the shelf for $129.00, adding taxes again at 8.25% or $10.64 brings my total to $139.64. So you tell me, where is the savings at Circuit City? There are none, and that is why they are going out of business. Don’t get me wrong, I understand the economic principal behind marking items up just to give a mediocre discount which will still net you a profit. But let’s be realistic, I would have bought two of those hard drives, if say they were marked at $99.00 or even $109.99. So needless to say, I walked out laughing at all of the economically blind.

For their full announcement, click here to visit their website .

Here is an interesting post on gizmodo contradicting my entire post.