The 88th General Assembly
has convened the 2012 fiscal session

Tuesday, November 25, 2008

Newest owner of the New York Mets' new stadium: You

Citibank received a bailout yesterday to the tune of $326 billion from the federal government, but not to worry, Mets fans. Citi's agreement to pay $400 million for naming rights to the new stadium will not be affected. So to follow the money: The government gives funds to Citigroup, who can now better pay the Mets, the same ballclub that is already the recipient of more direct government subsidies for stadium construction. This Citi bailout is being hailed by some as a second catalyst to the market and a "template that works" for other payments, but it's not going to sit well with many taxpayers.