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Levin Blasts Hypocrisy on Jets for Bailed-Out Banks

by Michael O'Brien - 01/26/09 3:01 PM ET
by Michael O'Brien - 01/26/09 3:01 PM ET

Sen. Carl Levin (D-Mich.) alleged Monday there is a double standard in the treatment of his home state’s automakers compared to corporate banks when it comes to private jets.

Levin blasted Citigroup, which received money from the $750 Wall Street bailout fund, for spending $50 million on a new private jet, when the chief executives of Detroit’s Big 3 were lambasted by lawmakers for flying to Washington on company planes.

“To permit Citigroup to purchase a plush plane

Tags Bailout Business Carl Levin Carl Levin Citigroup Debt Economics Economy of New York City Economy of the United States Emergency Economic Stabilization Act Late-2000s financial crisis Man Made Disaster Person Location Person Travel Quotation Word of the year

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