Bank of America wastes bailout funds on Super Bowl bash

The bailout outrage grows daily, so why should Groundhog Day be any exception? Even our friends at ABC of all places seem to think it's out of control now.

It turns out that Bank of America - which received bailout money from the taxpayers - spent these bailout funds on an extravagant, 5-day-long Super Bowl party that was covered from end to end with the bank's marketing materials.

(Of course, I've boycotted the NFL for several years because of its frisking of fans. And the Super Bowl always seems to be won by the same teams year after year anyway, because the NFL favors these teams. But that's another story entirely.)

Wank of America thought it was so on the brink of collapse that it needed $45,000,000,000 in taxpayer money, but it has enough money to sponsor a 5-day event like this?

Most people I know are worried if they're still going to have a job or even an apartment a month from now (if they're not already suffering chronic unemployment), but Bank of America spent taxpayer money on a Super Bowl party?

The bank's defense is that this was a "business proposition" that was part of its "growth strategy." But Rep. Elijah Cummings (D-Maryland) said of Wank of America, "They should know better, but obviously they don't."

Meanwhile, bailout recipient Morgan Stanley - a bank that laid off 5,000 workers - used a 5-star oceanfront resort to hold an elegant gathering for clients.

(Source: http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3719021&mesg_id=3719021)