LA Connection Property Blog: The madness continues at Citigroup

The madness continues at Citigroup

The recipients of bailout funds continue to act with arrogance and total contempt for the American Taxpayer. They have no regard for public sentiment and are clearly indifferent to reality.

Remember how Merill's John Thain spent over $1,2 Million renovating his office and then wanted a $10 Million bonus for 2008 despite the near collapse of Merrill Lynch?

Remember how the Chief Executives from GM, Chrysler and Ford flew into Washington on their private jets seeking taxpayer funds?

Remember how AIG went ahead with a $400,000 luxury retreat while receiving billions of taxpayer money?

Well that craziness hasn't ended ....

Citigroup, the recipient of $45 Billion in bailout funds, announced it will spend $10 Million on new offices for Chief Executive Office Vikram Pandit (the $216 Million man) and his management team.

This begs the question ....Were the old offices at Citi the reason why the bank perfomed so badly?

Comment balloon 6 commentsCOMPASS PALM SPRINGS | Stewart Penn • March 20 2009 03:50PM


Stewart, you might be onto something there!  And maybe we could move from Citigroup to renovating all of the Congressional Office and the Oval Office.  If Bush had had a prettier desk in the Oval Office, he might have had a more successful presidency!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 11 years ago


Very Funny!!!! I am so over all of this

Posted by Jane Wallace, CRS | SRES, Denver Real Estate (HomeSmart Cherry Creek) over 11 years ago

At first I thought you were referring to the elected officials of the USA.  Your description fits them to a T. 

Posted by Ross Westerman over 11 years ago

'tGeez Stewart, will it never end?  Yes it will when we speak with our pockebooks and at election time!  Don't forget AIG had TWO 400k parties and BofA was going to sponsor some kind of week long sporting event till the public caught wind and spoke.


Posted by Terry Haugen STAGE it RIGHT! 321-956-2495 (Stage it Right!) over 11 years ago

Come on over to my blog and give me some help on the foreign policy post. I'm getting creamed by the conservatives!

Posted by Ann Heitland, Retired from Flagstaff Real Estate Sales (Retired from RE/MAX Peak Properties) over 11 years ago

Stewart - Surely you realize that Mr. Pandit can't possibly function at his peak if he is forced to work in an inferior work space. God forbid he suffer through cubicle life.

Posted by John Guiney, e-PRO, CBR (Keller Williams Realty) over 11 years ago

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