After Bailout, Lavish Spending Lives On, Luxury Jets, Oceanfront Homes Reveal A Very Different Attitude By Corporate CEO's
The financial crisis hasn't necessarily put an end to lavish corporate spending or stopped its leaders from living the good life. Citigroup has received so much bailout money to date that the American taxpayer is now its major stockholder. So when it was reported Monday that the company is having a new, $50 million luxury corporate jet delivered, some people just couldn't believe it:"I was outraged," said one citizen-stockholder. "$50 million, they have leather seats in this airplane, and I don't think they care. I think they're spoiled babies."
"Why can't they fly commercial?" asked another. Citigroup's purchase follows a report that former Lehman Brothers CEO Richard Fuld deeded his $14 million oceanfront home in Florida to his wife for just $100 - the minimum amount needed for a property transfer.
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