CEOs of Bailed-Out Banks Flew to Resorts on Firms’ Jets

by  

Print | No Comments | Share/Save

Published in The Wall Street Journal June 19, 2009 by Jesse Drucker and Mark Maremont.

Some executives at banks propped up by government aid have retained a coveted perk: personal use of the company jet.

Flight records show numerous occasions when banks receiving federal money have flown their planes to destinations near resorts or executives’ vacation homes, including spots in Europe, Mexico, the Caribbean, south Florida and Aspen, Colo. In some cases, it’s clear that bank executives were traveling for personal reasons; for other flights, many of which were over weekends or holidays, the passengers and purpose couldn’t be established.

Link to full article.

Post a Comment