Isn't cash fungible? How can Citi say it is not using TARP funds for the naming rights on the NY Mets new stadium? Those rights are currently slated to cost Citi $400 million per the WSJ.
Citi says, "We are not using TARP funds for the naming rights." Let me see if I get this straight. You took $45 billion from TARP presumably because you needed the funds. If you don't spend the $400 million on the new stadium, don't you need $400 million LESS of the TARP funds?
Really, can you say are not using TARP funds when cash is fungible???
Even though I posted twice already today, I could not let this go by. Victor please tell me you didn't endorse the "we aren't using TARP funds" spin.
Cheers, Mike
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I was really insulted when B of A said yesterday their Vegas trip was not paid with Tarp $$. Please.
ReplyDeleteYes, it is more than the same fungible cash issue. Wells Fargo was operating as business as usual and these are not usual times.
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