Greg Roach's Berkshires Blog
Sunday, February 01, 2009
  Journalistic Ethics and the Citibank Bailout
Well, now I'm pissed. Last Tuesday I tipped off Chuck Bennett of the NY Post and did a phone interview with him about Citibank's plane being in Cabo over New Year's. I GAVE HIM THE STORY AND HE KNEW I HAD PUBLISHED IT ON THIS SITE.

This story would not have even crossed the Post's radar without this blog and my email and phone conversation with Bennett. Now another reporter at the Post took Bennett's notes and ran with the story:
Just weeks after Citigroup averted total collapse with a $45 billion shot in the arm of taxpayer cash, the bank jetted its former CEO and his family on one of its corporate jets to a posh Mexican resort for New Year's, The Post has learned.

Sandy Weill, 75, hopped aboard the tanking bank's Bombardier BD 700 Global Express on Dec. 26 with his wife, Joan, daughter Jessica, her husband and their children. They flew from Westchester County Airport to the Los Cabos shore region in sunny Baja, according to aviation records and sources familiar with the trip.
I am referred to as - "sources familiar with the trip" -GRRRRR. I provided a published, eyewitness account.

But all the same, I am happy to stick it to Citibank. That company screwed me twice with their greed and cost me hours of financial legwork to undo their unethical and incompetent dealings over two different third party credit cards. If a couple of executives have to testify before congress because my brother and I jotted down the tail numbers of luxury planes while on vacation, then I'll consider us even.
 
Comments:
Well..CNN is reporting that Sandy Weill is terminating his consulting package with Citi, probably costing him $millions in perks.

I think you're almost even now.
 
Heh. That brings a smile to my face.

One overcompensated gilded age CEO down, many more to go......
 
Turkeys.

Happen to be in Hartford tonight for a quickie--thought about you when I flew over...

Cap'n John
 
I hate it when I am a "source" and not a person, too. Some people ask not to be specifically identified, other times, reporters want to make it seem they did the digging themselves, and didn't just pick it up off the net.
 
Bailout 2008, a poem by David Jeffrey:

Like a bloodied warrior, laying broken and torn.

Like a dying soldier, hopeless and forlorn.

But the blood, it be green, the color of money.

And the soldier is an economy, and it is anything but funny.

Broken are it’s people and shattered are their dreams.

Thanks to the ultra rich and their fool proof schemes.

It is a tragedy with more pain to come.

Finance will be Hell, and their wills will be done.

http://www.voicesnet.org/allpoemsoneauthor.aspx?memberid=98290
 
Awesome poem--This David Jeffrey fellow really captured the pain and anquish America will feel as a nation
 
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