TV News LIES

Friday, Aug 22nd

Last update05:16:56 AM GMT

You are here News Economy Citi, AIG Won't Drop Big Sports Sponsorships

Citi, AIG Won't Drop Big Sports Sponsorships

E-mail Print PDF

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 as they take billions in taxpayer support, ABC News has found.

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." 

TVNL Comment: So in essence you, the tax payer, subsidized the milti-million dollar baseball player, who PLAYS GAMES for a living! Not only that...they have made it so expensive to see games that many people can't afford to even go to a game anymore!

More...


Most Recent Related Stories...


BofA in $16.5 billion deal with U.S. over mortgage bonds

Bank of AmericaBank of America Corp is expected to pay more than $16.5 billion to end investigations into...

Cisco to cut another 6,000 jobs as forecast falls flat

Cisco layoffsCisco Systems Inc (CSCO.O) forecast tepid current-quarter results and said it plans to cut another 6,000...

Labor sharks sink teeth into low-wage immigrant workers

Wage theftWhen Ophelia Hernández, a 53-year-old clothing store owner from El Salvador, got working papers to come...

Report: 18 firms hold a third of US wealth

major corporations in USIncome inequality is a hot political topic and a report showing that a small number of...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!