There's nothing surprising about companies sponsoring sports teams, but Bank of America may have gone too far. The bank, which has received $45 billion in taxpayer money, sponsored a five-day blowout called "NFL Experience" last week, and according to insiders the tents alone cost $800,000. ABC reports that in total, being the official bank of the NFL has put the bank (or taxpayer) back $10 million. Bank of America defended the sponsorship as part of its growth strategy.
Regardless, lawmakers have identified sports sponsorships as a problem. Last week Democrat Dennis Kucinich and Republican Ted Poe joined forces to ask Treasury Secretary Geithner to demand that CitiBank ends its $400 million contract with the New York Mets for naming rights to the team's stadium, now called CitiField.