Plane Stupid: Bailout Bucks Buy Bank's Private Jet

Citigroup just took a $45 billion bailout from taxpayers -- and just bought a new Dassault Falcon 7X for $50 million.

The picture gives you an idea of what the innards of a Falcon 7X looks like.

From the New York Post:

The French-made luxury jet seats up to 12 in a plush interior with leather seats, sofas and a customizable entertainment center, according to Dassault's sales literature. It can cruise 5,950 miles before refueling and has a top speed of 559 mph.

Citigroup bought the French-built plane a couple of years ago when subprime mortgages had Citigroup flying high on financial instruments. The bank decided to go ahead and take delivery despite having to ask taxpayers for the bailout.

$100 for a $13 Million Mansion

The housing market collapse is offering up all kinds of bargains on cheap houses. Take the case of the woman who snared a $13.3 million mansion for just $100.

Of course, the house belonged to the former CEO of Lehman Brothers, and she just happened to be his wife.

The sale back in November showed up in Florida real estate records. Former CEO Richard Fuld has been blamed for Lehan Brothers' collapse on September 15th. (Reuters)

Yeah, But It's No Water Skiing Squirrel

President Barack Obama brought the White House out of the radio age today by launching his weekly video address -- available on YouTube as well as at WhiteHouse.gov.

The topic was economic stimulus and how his "American Recovery and Reinvestment Plan" will jump-start the economy.



(WhiteHouse.gov/YouTube)

Returning Raises in the Keystone State

A third of the Keystone State's lawmakers have returned their pay raises to the Pennsylvania treasury.

It comes the state's budget shortfall has worsened by $300 million in the last week alone. Gov James Rendell (D-PA) says that'll mean lay offs of state workers when the fiscal year begins July 1.

Pennsylvania lawmakers rushed to say they'd give up raises when things turned bad. Only 1-in-3 have returned their pay hikes for a grand total of $25,470.

The raise took effect on December 1.

PennLive.com has a list of those who've returned the extra pay so far. (PennLive.com)

Hey, We Only Lost $11 Billion

John Thain, CEO of Merrill Lynch is putting in for a $10 million dollar bonus.

His logic is that Merrill Lynch -- which lost $11 billion -- isn't in as bad a shape as say Lehman Brothers or Bear Stearns which collapsed completely. (CNN)