03 February 2009

That Was $45B Well Spent by the Feds

Bread and Circuses for a Bailed-out Bank

Sharpshooting corporate excess might be a intellectually lazy endeavor, but it should piss you the fuck off if they got bailed out! ABC has the dirt on Bank of America, who received $45B in bailout funds, but decided to spend an obscene amount on some meathead monument at the Super Bowl:
The bank refused to tell ABC News how much it is spending as an NFL corporate sponsor, but insiders have put the figure at close to $10 million. The NFL Experience was on top of that and was inked last summer, according to the bank.

The NFL said it was a "multi-million dollar" event and that it was also spending money to put on the event. A Super Bowl insider said the tents alone cost over $800,000.
No surprise considering most of the bailout money was unaccountable in the first place. Does anyone still think Bush's TARP scam was a good idea?

8 comments:

Wek said...

I feel bad for the rest of you. At least I was able to go to the NFL Experience and recoup some of my tax $. SUCKAS!!!

Elizabeth said...

And Wek, I suppose you were rooting for the Steelers, too.

Some people have ALL the luck. As for the rest of us...if we didn't have bad luck, we wouldn't have any luck at all. :(

Wek said...

Nah, I was for the Cards. Only teams that wear red (i.e. Bucs) should win in Tampa

Elizabeth said...

Well, no matter...you still have bragging rights and, by the sound of it, got a pretty big bang for your buck!

olgreydog7 said...

I don't like the bailout anymore than the next guy, but come on man. Are they supposed to drop all advertising expenditures? That's really all that is. I say better that than 1 minute of commercials.

Anonymous said...

And don't they do advertising deals way, way in advance? I mean, most of the time. So, even though it was stupid (!) if they had pulled out, they probably would have lost the money anyway.

Kath

Barrage said...

Maybe they should take down their logo on their buildings too? I'd like to see these banks make back my money. This is different than shelling out bonus money. The pricks that demand a bonus after epic failure are the real problem.

Nixon said...

OGD,

THey are receiving public funds, so they need to have ethics similar to any public office. Of course seeing the string of scandals involving Obama nominees, that might not be a good idea.