Bailed Out Bank of America Pimps Super Bowl Fun Fest

Monday, February 2, 2009

abc_bofasign_090202_main

Despite whining to Congress they were near a 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 in Tampa, FL this past week known as the NFL Experience.

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 swag and marketing calls to sign up for football-themed banking products.

The bank refused to reveal to ABC News how much it is spending as an NFL corporate sponsor, but insiders have put the figure at close to a staggering $10 million.

This is precisely why I vehemently opposed the $700 billion dollar bailout of Wall Street from the start. With absolutely no transparency language in the bill, corporations like Bank of America (as well as others) are free to use bailout money in ways that are completely inappropriate and unethical.

About these ads
This entry was posted in Bailout, News, Politics and tagged , , , . Bookmark the permalink.

17 Responses to Bailed Out Bank of America Pimps Super Bowl Fun Fest

  1. Brigadoon says:

    Corporate America was, is and always will be evil and in need of control. I kept asking how the Bush economic team arrived at the $700 billion figure and I even wrote my senator. Of course, I never got a response.

  2. libhomo says:

    We really need to crack down on the banksters.

  3. TOM339 says:

    Yes Chris, I remember how passionately you opposed the bailout and I remember the criticism you took for it.

    Like many, I just never bought the “we have to act now or in 24 hours the USA will slip into another Great Depression,” shtick being pushed by Paulson with the help of Reps. Frank and Pelosi.

    Economic turmoil never happens overnight — it’s a gradual process that takes months and even years to take hold.

    So here we are. The national debt is nearing $12 trillion and the banks aren’t lending but they sure as hell as throwing some hot parties on Super Bowl Sunday.

    Americans are fools to tolerate this.

  4. Fran says:

    I noticed Cadillac (GM) was a major sponsor as well. I hear CITI was planning to put it’s name on a new $ports arena, but Congress got wind of it & are demanding it not spend taxpayer bailout money in this way.
    Agreed the money should never have been given out, but since it was, there should be clear guidelines, or better yet the need for approval of large spending projects.

  5. Here’s the thing.

    Obama has been a vocal critic of Wall Street and how the bailout money is being spent.

    Yet, is Wall Street listening to our new president? I would argue, based on how Bank of America used part of their $45 billion, the answer is a resounding “No.”

  6. Peace Nick says:

    Citi Bank is helping underwrite the $2 billion dollar cost of the new Mets stadium in Queens, NY.

    Funny how they raised my interest rate despite having a perfect record with them. Next up, Citi Bank was part of the bailout package receiving $50 billion.

    If they’re broke, how can they build a new stadium for the Mets?

  7. JollyRoger says:

    There ARE no ethics in corporate America anymore. There is only profiteering, by whatever means is available.

  8. joe says:

    And now that the banks have been bailed out with our money, they’re being tight-fisted in making loans.
    With our money.
    That they had no business taking because they should have gone bust cause they’re greedy, scum-sucking bastards.

  9. joe says:

    And one more thing: Someone once wrote me a check, and the account was a bank of america account. i drop by the nearest bank of america and they almost wouldn’t cash my check, because even though the check was from an account in their bank, i was not a bank of america account holder. when they finally cashed it (which legally they were obligated to do), they acted like they were doing me this huge favor. Well, screw you, bank of america! You suck!

  10. Nan Yun says:

    There is a Chinese proverb: “Wealth is but dung, useful only when spread about.”

    Corporate America does not understand this.

  11. You were right Christopher. I was wrong. B. Of A. sucks big time. I voted for the Bank bailout and they used us like whores.

  12. Randy Arroyo says:

    Bank of America, the world’s largest bank, told the New York Times they were within weeks of going insolvent. So now that they got a huge shot of my tax money, they’re in such great shape they can pay for a $10 million dollar Super Bowl party? What the fuck is going on here?

  13. R.J. says:

    B of A can **** me. I hope they go under.

  14. Dave says:

    you know, this really cheeses me off. I have accounts with BoA AND Citi. God forbid you miss a payment or something, they crucify you. But hey, they can try to buy a $50 million corporate jet and host a lavish slew of Superbowl festivities…

  15. Bel Ami says:

    Too bad we don’t have genuine leadership in the US Congress who would forced BofA to return their $45 billion of my tax money.

    But alas, the Congress — Repugs and Dems, don’t want to piss off corporate America.

  16. DB says:

    As a former employee while in college, I can attest to their shady practices and “screw everyone out of their money” mentality that they push on every banker. They deserve what is coming to them. If they want to take the governments money, they need to be held accountable to its new shareholders…the people.

  17. Panasit (the real one) says:

    The banks have been doing disgusting shameless spending after receiving the tax payers’ bailout money, but I think promoting its business and enhancing its image is not wasteful spending as say… buying a jet plane, or give the workers at the top even more bonuses.

    You can say there’s a more low key way to promote, but then again it’s part of their marketing strategy, it’s kinda overreaching to say there is some evil intent or some blinded selfish “I can do whatever I want” attitude behind it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s