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You are funding CITI's marketing efforts (and the New York Mets)

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Mon Nov 24, 2008 at 04:30:04 PM PST

Nice.

Struggling Citibank just sealed a multi-billion-dollar emergency "backstop" deal with the U.S. government. The financial behemoth, suffering with billions in bad mortgage-related assets on its books, recently shed 53,000 workers and saw its stock price lose over half its value. Yet it's in a 20-year contract to pay the New York Mets $400 million to name the team's new stadium "Citi Field."

Glad to see our bailout funds go to a bank that is apparently so threatened, that it can ink a $400 million stadium-naming contract. Apparently, there's nothing better to spend federal money on than on CITI's marketing efforts and a higher Mets payroll.

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Tags: bailout, citibank (all tags) :: Previous Tag Versions

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