Getting something for our bailout investment
(Image via Suitably Flip.)
One of the tidbits of news that seeped out in the wake of the roundly criticized weekend bailout of Citigroup was this report from Justin Rood of ABC News:
AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships, even as they take billions in taxpayer support, ABC News has found.
In boom times, the sponsorships were seen as a way to advertise the firms’ “brands” and appeal to potential customers.
I’d like to join the call from skippy the bush kangaroo and a pair of righty blogs that U.S. taxpayers deserve a share of the action here. But rather than replacing the existing names, I think this should be treated as a co-branding opportunity — “Citi Taxpayers Field,” “Wachovia Taxpayers Center,” etc. — just to make sure everybody knows who owes us some payback.
As an alternative, I’d be willing to support simply naming every arena or stadium involved after Barack Obama, if only to see if it would make Grover Norquist’s head explode.
Stumble it!
Tags: bailout, Citigroup, random snark
