Cash Crunch

The news is full of stories of the cash crunch that America is facing. Citibank today may not take possession of the $50 million dollar plane it purchased from France. If the collapse of the banks during 2008 were not known, the purchase of the plane probably would not have made news here. What is France to do now that they will not get the money? Or will they?? Did Citibank have to put a down payment for this plane? Will France force Citibank to pay and we will not hear of it. Citibank stated that the money that was to be used for the plane had nothing to do with the 20 billion that it got from the taxpayers. I did not get a thank you letter, did you?

The cash crunch is everywhere and in our pockets. We will continue to see poor cash decisions turning into Government takeovers and bailouts. The tarp just got bigger.

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