With $45 billion in taxpayer funds burning a hole in its pocket, Citigroup is purchasing a $50 million Dassault Falcon 7X, according to the New York Post. Apparently none of the existing jets that ferried execs to Washington to ask for bailout funds was ironic enough.
According to the Post, the jet seats up to 12 and has leather sofas and a customizable entertainment center. There are only nine of these planes in America.
Remember when the CEO of Citigroup said this?
We are committed to helping the financial markets recover as quickly as possible. To accelerate that recovery Citi is putting the TARP capital it has received to work to support the U.S. economy and consumers – expanding the flow of credit to U.S. households and businesses responsibly and on competitive terms.
Alas, the plane is made in France, and Citi’s purchase will not even support the beleaguered U.S. luxury plane manufacturing industry.