The definition of giant, swinging, I-don’t-give-a-sh*t-what-you-think balls: spending millions of dollars to sponsor College Bowl Games when you’re receiving handouts from the government. Anyone reading this should be pissed beyond belief that our dollars are being spent in order to make sure announcers can’t call it the Rose Bowl, but “The Rose Bowl Game Presented By Citi.”
There’s also the Capital One Bowl. Or the GMAC Bowl. The Pioneer Las Vegas Bowl brought to you by Bank of America. The EagleBank Bowl. And who could forget the Roady’s Humanitarian Bowl sponsored by U.S. Bancorp. All sponsorships cost millions, and all from companies who screwed up so badly they had to take millions and billions out of taxpayers’ pockets.
Sufficiently furious yet?
One congressman is.
Rep. Scott Garrett (R., N.J.), a critic of Treasury’s Troubled Asset Relief Program, said the government shouldn’t micromanage companies. Still, he questioned why banks — which reportedly aren’t using federal funds to lend to consumers as intended — need to sponsor nationally televised sporting events.
“The irony is these guys aren’t lending to people, so what are they advertising for?” Mr. Garrett said.
For their part, the banks say that these are pre-existing commitments, and that they’re not using the bailout money to pay for the sponsorships. To that, I ask, if you’ve got the money to name a stupid bowl that no one’s going to watch after you, why are you asking for my money?