Monday, December 01, 2008

On second thought, maybe you really don't want to know where the bailout money is going

CitiGroup, via Citi Infrastructure Partners, is buying $10 billion’s worth of toll roads and highways -- in Spain, Portugal, and Chile.

That’s right, fellow gullibles. After receiving $45 billion in taxpayer money to keep its toxic ass afloat and to help prime the pump of the US lending market, Citi jets over to sunny Spain and drops a great big flippin’ wad of cash for a bunch of privatized roads. During a recession, when people cut back on travel. In countries with admirable commitments to mass transit. And after the reality of peak oil has finally sunk into even the extra-thick skulls of Americans.

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