Americans Scammed Again!

Americans allowed themselves, once again, to be scammed by the media and used by Congress, convinced that Detroit automakers' corporate jets were their exclusive excess. The recipients of taxpayer welfare funds with no strings attached, courtesy of Paulson seem more worthy of condemnation.

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AP reports --
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Six financial firms that received billions in bailout dollars still own and operate fleets of jets to carry executives to company events and sometimes personal trips,....
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Insurance giant American International Group Inc., which has received about $150 billion in bailout money, has one of the largest fleets among bailout recipients, with seven planes, according to a review of Federal Aviation Administration records.
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To cut costs, AIG sold two jets earlier this year and is selling or canceling orders for four others.
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Five other financial companies that got a combined $120 billion in government cash injections - Citigroup Inc., Wells Fargo & Co., Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley - all own aircraft for executive travel...
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CITIGROUP: Has a wholly owned subsidiary, Citiflight Inc., that handles air travel for executives. Citi spokeswoman Shannon Bell refused to comment on the size of the firm's fleet but said it has been reduced by two-thirds over the past eight years. FAA records show four jets and a helicopter registered to the company.
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MORGAN STANLEY: Has reduced its executive jet fleet size from three planes to two since 2005, company spokesman Mark Lake said. FAA records show two Gulfstream G-Vs as registered to the company.
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In 2007, CEO John Mack's personal use of company aircraft totaled $355,882, according to a February proxy filing. Mack is required to use company aircraft for personal trips for security reasons.
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**This is the same John Mack named by the SEC Whistle blower in the previous comment.

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- JPMORGAN: Registered as the owner of four Gulfstream jets, including a 2007 ultra-long range flagship G550 model, FAA records show. A G550 ordered for delivery that year would have cost roughly $47.5 million.
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CEO Jamie Dimon is required to use company aircraft for personal trips; In 2007, his personal use of company jets totaled $211,182, according to a May filing with the SEC. Company spokesman Joe Evangelisti refused to comment on whether the bank has changed its policy on corporate aircraft use since accepting $25 billion in TARP money.
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- BANK OF AMERICA: Registered as the owner of nine planes, including four Gulfstreams, FAA records show. Company spokesman Scott Silvestri refused to say whether the company has changed its policy on corporate aircraft use since taking $15 billion in bailout money.
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CEO Kenneth Lewis, also required to use company aircraft for personal trips, racked up $127,643 in such travel last year, according to a March filing with the SEC.
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- WELLS FARGO: Owns a single jet that "is strictly for business purposes under appropriate circumstances," spokeswoman Julia Tunis Bernard said. "No (government) funds will be used for corporate jet travel," she added.