As part of its federal life preserver, Citigroup will stop dividend payments for the next three years and curb certain executive compensation.
Ok Good start so far, doing something to stop the bleeding, good, good.
But the banking giant and other recipients of taxpayer largess — AIG, the insurance behemoth, for instance — will continue to spend hundreds of millions of dollars to put their corporate logos on sports stadiums and events, ABC News says.
Now see, here’s where you lose my support, if you “need” money to keep yourself afloat you don’t go spending money “willy nilly”. Ok Congress…how does the Citigroup and AIG bailout smell now? Kinda fishy if you ask me.