February 2, 2009

Bank of America shows its financial acuity again

They were just bailed out to the tune of $45 Billion of our dollars and they go and blow ten million on a Superbowl Party. From ABC News:
Bailed Out Bank of America Sponsors Super Bowl Fun Fest
Despite a near collapse that required $45 billion in federal taxpayer bailout funds, Bank of America sponsored a five day carnival-like affair just outside the Super Bowl stadium this past week as President Obama decried wasteful spending on Wall St.

The event � known as the NFL Experience � was 850,000 square feet of sports games and interactive entertainment attractions for football fans and was blanketed in Bank of America logos and marketing calls to sign up for football-themed banking products.

The bank staunchly defended its sponsorship, saying it was a "business proposition" and part of its "growth strategy."

Critics blasted the spending as a serious abuse of taxpayer money.
A bit more:
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.
And we are fscking rewarding these cretins for this kind of behavior? Seriously WTF is going on here... Posted by DaveH at February 2, 2009 5:31 PM
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