When you think of your tax dollars at work, you probably think of police officers and school teachers, right? How about baseball fields? That’s what Citi is doing with hundreds of millions of dollars of taxpayer bailout funds, at least. Financial columnist Dan McNay explains:
- Citigroup is paying $400 million ($20 million for $20 years) for the ego boost of having a stadium named after it.
Since Citigroup received billions in bailout money, the American taxpayers are footing the naming rights tab.
[...]All of America’s taxpayers, many who will never visit New York in their lives, came up with $400 million of the money for the stadium naming rights. Citigroup would not have had $400 million to throw around unless the American people “lent” it to them.
Every time we see bailout money being spent on corporate ego boosts or bonuses like the kind that Goldman Sachs gave themselves, it kicks the American people in the face.
Tired of supporting banks that use your money for their own gain? Then stop. Put your money in community banks and credit unions that go to bat for their communities.
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