Bailed out bank sponsors $10 million Super Bowl party
Despite a near collapse that required $45 billion in federal taxpayer bailout funds, Bank of America sponsored a five day carnival-like affair just outside the Super Bowl stadium this past week as President Obama decried wasteful spending on Wall St.
The event — known as the NFL Experience — was 850,000 square feet of sports games and interactive entertainment attractions for football fans and was blanketed in Bank of America logos and marketing calls to sign up for football-themed banking products.
The bank staunchly defended its sponsorship, saying it was a “business proposition” and part of its “growth strategy.”
Critics blasted the spending as a serious abuse of taxpayer money.
The bank refused to tell ABC News how much it is spending as an NFL corporate sponsor, but insiders have put the figure at close to $10 million.
This video is from ABC’s Good Morning America, broadcast Feb. 2, 2009.