Super Bowl party too expensive for crisis-hit America?
The Bank of America, which recently received $45 billion from Washington in federal taxpayer bailout funds, has reportedly spent $10 million to sponsor five days of Super Bowl festivities.
It comes shortly after President Barack Obama decried this kind of lavish spending by the banks.
“We’ll ensure that CEOs are not draining funds that should be advancing our recovery. And we will insist on an unprecedented transparency, vigorous oversight and clear accountability, so that taxpayers know how their money is being spent and whether it is achieving results,” Obama said.
Meanwhile, interestingly enough, Mr. Obama has thrown his own Super Bowl party in the White House.