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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Sunday, January 18, 2009

Uncle Sucker

Two stories in today's New York Times tell us what banks are doing with the federal bailout cash they've received. Of particular interest is the Page One story that notes the bailout funds are a windfall to the banks if not the borrowers.

In a delicious piece of irony, the Times proves the story just inches below: one of the new 6-column front page ads touting Citigroup, a bank described by Times columnist Gretchen Morgenson just a few sections deeper in the paper as "Exhibit A for the failure of the soup-to-nuts business model."

It would be hilarious if not for the fact you and I continue to pay for Citigroup's unrestricted advertising blitz, including the name of the Mets' new home. Let's see, $100,000 for the ad, another $400 million for the Mets... Pretty soon we'll be talking real money.

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