posted January 27, 2008 01:56 AM            

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Next time you visit the ATM at your local Citibank, you might be interested in knowing what the company is planning to invest in down in Texas since it's going to directly impact your future. This prestigious bank is seriously considering funding the dirtiest coal power project this side of China.

Just last year, Citigroup announced it would reduce its own global CO2 emissions 10 percent below their 2005 levels by 2011. But now they're saddling up to help fund TXU's disastrous plan to build a fleet of 11 dirty coal-fired power plants that will dump 78 million tons of CO2 into the atmosphere each year of their 50+ year lifespan.

The cost of constructing these global warming factories is estimated at $11 billion. That's a lot of scratch to cobble together, even for a big company like TXU. So they're counting on support from three of the country's leading investment banks: Citigroup, Morgan Stanley and Merrill Lynch.

What makes this situation so ridiculous is that these same banks are falling all over themselves trying to promote their commitment to climate protection. And now they're jockeying to fund a project that represents a giant step backwards - guaranteeing enormous carbon emissions for the next half-century. If Citigroup counted their share of the resulting pollution as part of the company's direct emissions, it would shatter their C02 reduction goal a thousand times over. But Citigroup only counts its direct emissions, not those of its investment projects. That's pathetic. The CO2 spewing from your investments should also be part of your reduction goal, Citigroup.

It's baffling to me why any of these top financial institutions would risk their money - and their reputation - to finance 11 dirty coal plants just as lawmakers are beginning to get serious about limiting global warming pollution.

Talk about a bad bet.

TXU and the banks are beginning to hear from a growing alliance of businesses, mayors, religious leaders and committed citizens who want the Lone Star State to pursue cleaner, more efficient energy solutions. Well it's time to turn up the heat.

Texans, and all Americans concerned for their health -- not to mention the planet -- should urge Citigroup, Merrill Lynch and Morgan Stanley to take a pass on this self-destructive investment. If you do business with any of these banks, contact them and demand they get with the 21st century.

Citigroup
399 Park Avenue
New York, NY 10043
Telephone: (800) 285-3000

Merrill Lynch & Co., Inc.
4 World Financial Center
250 Vesey Street
New York, NY 10080
Telephone: (212) 449-1000

Morgan Stanley
1585 Broadway
New York, NY 10036
Telephone: (212) 761-4000

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posted January 28, 2008 12:24 PM            

You know she lives in a 30,000 square foot home...some estimate 50,000 square feet...with all that electricity load.

Not to mention the Lincoln SUV's parked in that long, long, long driveway...parked in the driveway until one of her so called green friends showed up unexpectedly one day and saw them. Now, she keeps them well hidden from view.

Of course, like most of the phonies in the "global warming" covens, she still flies all over the world in private jets to lecture the rest of us....in the reduction of our own carbon footprints.

Arianna is just another nitwit twit hypocrite who contines to screech..."Do as I say...not as I do".

Up her's.

posted January 28, 2008 01:01 PM            

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Laurie David is devoted to stopping global warming. She founded the Stop Global Warming Virtual March at www.stopglobalwarming.org with Senator John McCain and Robert F. Kennedy, Jr. that is engaging religious leaders, sports figures, elected officials from all sides of the aisle, business leaders, and every day Americans to urge the United States to address the ticking time bomb that is global warming.

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>>>with all that electricity load.

So what.

She is not in charge of electricity policy.
Let congress decide whether America should go nuclear like France or still live in stone age? I understand America is huge compared to France - but let congress discuss this.

I am with Leftist /Gore on this

posted January 28, 2008 01:15 PM              

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I love the childishness in you. But it does get irritated at times

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most times!

posted February 03, 2008 12:29 AM            

Plus, when I went to see An Inconvenient Truth, it started off with a SUV commercial! I thought it was hilarious, but I expect that someone in marketing really needed to be fired.

That aside, Citibank is really setting itself up for a karmic backlash. They're ticking off gunowners, too:

Citibank stirs controversy

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The news that Citi Merchant Services and First Data have refused to process sales for guns and gun accessories has spread like wildfire across the internet, arousing the ire of gun owners around the country. The story broke when the NSSF reported that Citi Merchant Services and First Data terminated the merchant account of CDNN Sports, a large, Texas-based gun retailer. There have been calls for the boycott of Citicorp/Citibank/Citi-Card products, as many gun owners have vowed to close their Citibank accounts or terminate their Citi-affiliated credit cards.

Interestingly, this isn’t the first time Citicorp/Citigroup has faced a boycott threat from gun owners. In 2000, after Citibank imposed a “no firearms” policy on a Nevada gun range, firearms owners nationwide responded with a boycott that caused Citibank to alter its policies.

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And now they're ticking off people in general around the world:
http://news.bbc.co.uk/2/hi/business/7224268.stm

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But the move has triggered an angry backlash from some customers who told the BBC they received a letter informing them of the withdrawal, despite having an excellent credit history.

Gillian Cox, of Farnham, Surrey, said she was "absolutely furious" to learn her credit card had been cancelled in what she described as an "unbelievable arbitrary action".

Mrs Cox said she and her husband are "retired, no mortgage, no debts" and "always paid the balance off in full each month".

She added that she had contacted credit reference agency Experian who said she was marked as having an excellent credit rating, "thus totally negating Egg's claim that this measure is about credit risk".

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The letters by readers are worth reading. It seems that Citigroup is trying to max out its profits by gouging those they can get into debt and not bother with managing those who pay back their debt with minimal to zero interest. That strikes me as a good way to get a very bad rep, and that the company WANTS to screw you over like some loan shark, and will probably get worse.

Seems easy enough to transfer any debt to another company for those currently in debt to Citigroup. And there seems to be plenty enough reason to do so, self-interest if nothing else. If they keep going the way they're going, then pretty soon their interest rates are going to go up as they seek to max out their profits even further. And then repossessing and the like. And if people DO transfer their debts to other companies and the boycott grows, I'd think they'd be in danger of bankruptcy, too.

posted February 07, 2008 11:41 AM              

http://video.google.com/videoplay?docid=-515319560256183936