Bailout bank's new jet angers Levin
BY TODD SPANGLER • FREE PRESS WASHINGTON STAFF • January 27, 2009
WASHINGTON -- When Detroit's auto execs winged it to the capital to ask for government help, they got beat up like a has-been boxer. Is it Citgroup's turn in the ring?
Back in November the question was: How dare the automakers poor-mouth if they could still afford to fly around in private jets? General Motors and Chrysler had to give up their aircraft to get $17.4 billion in loans.
Citigroup, like some other beneficiaries of the $700-billion Wall Street rescue, got to keep its jets. Citi said Monday it was under contract to buy the jet, and was considering selling or leasing the aircraft.
Sen. Carl Levin demanded that incoming Treasury Secretary Tim Geither end "a ridiculous double standard."
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