Guess what America? Citigroup CEO Vikram Pandit just gave us a $45 billion dollar Thank You card.
"This investment built a bridge over the crisis to a sound footing on the other side, and it came from the American people ... I want to thank our government," Pandit said in prepared remarks for his Congressional testimony.
Looks like Pandit hearts socialism for corporations. Despite all the savvy lobbying to help banks "free" themselves from onerous government regulation, Pandit et al get gooey-eyed for government when the former Big Bad regulator reaches into the pockets of taxpayers to support a "free market" business freely on the way to the grave.
"Citi owes a debt of gratitude to American taxpayers," Pandit said. "We look forward to helping them realize value on that investment." Aw shucks. Pandit wants to help us do well with an investment we were forced to purchase with tax dollars no longer available for more important things than investing in the risky private market. Last time I checked, playing the market was not what anyone considers a good use of hard earned tax dollars.
Since complaining about the Wall Street bailout is crying over spilt milk, let's just revel in awe over the cosmic hypocrisy of corporate socialism in a country which prides itself on exporting free market policy while demonizing socialism like Orwell's Eurasia and Eastasia.
What do you think of Pandit's Thank You? Let us know in the comments below.
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