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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • February 3, 2009 06:30 PM UTC by Cheryl Casone

    Don't Mess with Texas (or their Congressman)

    I have to share this interview with you.  If you missed the show today, we had Congressman Ted Poe from Texas on the show.  He is furious about the 400 million that Citigroup has spent on naming rights at the new Mets stadium.  OK, I have to say , AMAZING stadium, I just went by there a few weeks ago.  And, to be fair, Citigroup insists they are not using TARP money to fund marketing.

    But is this the right thing for Citigroup to do? The Congressman had very strong feelings:

    CC

Kathy

If Citibank could afford to buy the rights to the Mets Stadium name , and not use TARP money to accomplish this, WHAT do they NEED TARP MONEY for? My guess would be to supplement the "places" in their budget where they DID pay for the Name, you see IT's A RE-DISTRIBUTION OF WEALTH, CITIBANKS'.. tired of my intelligence being tried. Do ALL of us look stupid?

February 14, 2009 at 2:29 am

Disenfranchised

Here's a simple example of how ridiculous this concept is... lets say a school class has a test, they are told what will be on the test and what is required for a good grade then the test comes and half the students fail the test. The other half (the ones that studied) are really pleased with thier grades and proud of their achievement. After a little while, the teacher comes before the class and says some of the students feel bad that they got bad grades (while its true they didn't study) we dont want them to feel bad so everyone gets an A. That teacher just taught the entire class a horrible lesson. The kids that didn't study will never study and the ones that did are now disheartened and will not study either why should they there is no point to it. That teacher has just created a classroom of failures. I don't define failure as someone who tries and does not succeed every time but someone who tries, does what (s)he thinks is right and learns from their mistakes eventually they will succeed. A failure is someone who gives up, doesn't try or expects someone else to bail them out.

February 13, 2009 at 11:55 pm

Disenfranchised

Here is one of our problems. Congress needs to stop encouraging Americans to default on legitimate contracts, from Citi field to mortgages. Everyone is being told if you don't like the deal you made, just get out of the contract. How is anyone going to trust anyone else if your word means nothing and you can't even rely on a contract. If you make a bad decision, you are responsible for your choices. You may have to suffer the consequenses for your choices. But that is real life, everyone can't be bailed out by the people that made good choices.

February 13, 2009 at 11:55 pm

Robin

Why is it that big business can go crying to the gov that they need help when the small business owner has to deal with the decisions that they make... good and bad? I don't think that ANY business should receive gov money without expecting a LARGE amount of oversite by people like Ted Poe. Otherwise, get over it, make the cuts that need to be made, and act like any other business owner would. As a small business owner, I'm tired of paying for big business whiners!

February 10, 2009 at 7:19 pm

stephanie

Now lets extend this to EVERYONE who takes government money. CEO's of hospitals cannot make more than 500k, welfare mothers must be on birth control, etc, Be careful what you wish for, the seemingly responsible today may become the tyranny of tomarrow.

February 8, 2009 at 5:49 pm

Marie

I have been proud of Ted Poe since I started watching C-Span last fall. He always stands up for what is right. He is not in my district but I contributed to his campaign anyway. Republicans have got to start crossing state and district lines to support people who are working for us and not against. The Democrats certainly don't think twice about getting involved in another states elections. Just look at what has happened in Minnesota.

February 7, 2009 at 4:23 pm

don

I find it discusting that my tax dollars are being used to put a name tag on a ball park. Citigroup should default, return the Tarp money and see if the ball park crowd has the guts to endure the public outcry if they press the issue.

February 6, 2009 at 9:27 pm

Murphy

How can they claim to not be using TARP money? I can see the gray line where they claim TARP is in another account, but if using TARP to spend down debt to free up the $400 billion how is this not using TARP? It sounds like mumbo jumbo semantics to me. If I use money in my business for a purchase(equipment, etc) it doesn't matter where it came from it still comes in before the bottom line. Let's get real and call a pig a pig.

February 6, 2009 at 12:16 am

Jack Frayer

Yeah for the state of Teaxas. We need more congressional criticism of the tarp corporations. This will keep the money grabbers at bay. Citigroup should backout of the contract if they can. Maybe, a company actually making money will take over this type of marketing expense if it's that effective.

February 4, 2009 at 2:39 pm

brad

Well well well... When times get tough for you, you have to make cuts. Make the cut! Who cares. you took govt money and as the congressman said, now you are under govt control. should thought about that before you took TARP money.

February 4, 2009 at 9:31 am

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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