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	<title>Needlenose &#187; Citigroup</title>
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		<title>Getting something for our bailout investment</title>
		<link>http://needlenose.com/wp/2008/11/25/getting-something-for-our-bailout-investment/</link>
		<comments>http://needlenose.com/wp/2008/11/25/getting-something-for-our-bailout-investment/#comments</comments>
		<pubDate>Wed, 26 Nov 2008 00:20:57 +0000</pubDate>
		<dc:creator>Swopa</dc:creator>
				<category><![CDATA[Corporate Welfare]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[random snark]]></category>

		<guid isPermaLink="false">http://www.needlenose.com/wp/?p=927</guid>
		<description><![CDATA[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 [...]]]></description>
			<content:encoded><![CDATA[<div class="wp-caption alignright" style="width: 410px"><a href="http://www.suitablyflip.com/suitably_flip/2008/11/citi-field-rede.html"><img title="(Image via Suitably Flip.)" src="http://www.needlenose.com/i/swopa/citifield.jpg" alt="(Image via Suitably Flip.)" width="400" height="400" /></a><p class="wp-caption-text">(Image via Suitably Flip.)</p></div>
<p>One of the tidbits of news that seeped out in the wake of the <a href="http://krugman.blogs.nytimes.com/2008/11/24/citigroup/" target="_blank">roundly</a> <a href="http://wonkroom.thinkprogress.org/2008/11/24/citi-bailout-lousy/" target="_blank">criticized</a> weekend bailout of Citigroup was this report from Justin Rood of <a href="http://www.abcnews.go.com/Blotter/story?id=6321691&amp;page=1" target="_blank">ABC News</a>:</p>
<blockquote><p>AIG, Citibank and a number of other federally bailed-out financial institutions have <b>no plans to cancel hundreds of millions of dollars in sports team sponsorships</b>, even as they take billions in taxpayer support, ABC News has found.</p>
<p>In boom times, the sponsorships were seen as a way to advertise the firms&#8217; &#8220;brands&#8221; and appeal to potential customers.</p></blockquote>
<p>I&#8217;d like to join the call from <a href="http://xnerg.blogspot.com/2008/11/if-they-want-taxpayer-sponsorship.html" target="_blank">skippy the bush kangaroo</a> and a pair of <a href="http://kevincolby.com/2008/11/25/when-do-the-taxpayers-get-named-after-a-stadium/" target="_blank">righty </a><a href="http://www.suitablyflip.com/suitably_flip/2008/11/citi-field-rede.html" target="_blank">blogs</a> 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 &#8212; &#8220;Citi Taxpayers Field,&#8221; &#8220;Wachovia Taxpayers Center,&#8221; etc. &#8212; just to make sure everybody knows who owes us some payback.</p>
<p>As an alternative, I&#8217;d be willing to support simply naming every arena or stadium involved after Barack Obama, if only to see if it would make <a href="http://www.sourcewatch.org/index.php?title=Ronald_Reagan_Legacy_Project" target="_blank">Grover Norquist</a>&#8216;s head explode.</p>
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