Someone just sent me an article expounding the idea that the bailed out banks should be bailing out the auto companies. What follows was my reply.


Nobody should be bailing out anybody anymore - enough already. Too many of the banks have already tried to give the money bank and the government won't let them.

The banks now understand (and some of them did beforehand but were forced to take the money anyway) that they are really dealing with loan sharks. And like loan sharks they do not want the principal back they want to continue to collect the Vig (vigorish), the Juice, the Take - and that is the stake they now have in these institutions.

In fact I am totally pissed. This weekend I was watching the golf tournament in Charlotte - one of the real prestige events of the year on tour. It used to be "The Wachovia Championship", but since they took bailout money they couldn't sponsor this year and it was too late to line up another sponsor so the tour carried it themselves.

You may say, "Well what's wrong with that?" and I would say, "Just about everything."
Sponsoring that tournament broadcast on network TV afforded Wachovia millions of dollars of marketing exposure for nothing. Without them the charities in the area that are the beneficiaries of the money raised by the tournament will, this year, receive less or left out altogether

But I have to tell you the thing that irritated me the most was a commercial I saw during Sunday's broadcast. It was a commercial for the United Negro College Fund. They were pushing their (UNCF) campaign for Emrgency Student Aid - saying during these difficult times some students might have to drop out if they can't get help with their day to day living expenses during these difficult times. Hey, I have no problem with that at all. I believe in charitable giving and if you do and that is one of your selected charities then, by all means, fire them off a check - I think they are a fine institution.

But here is what really frosted my turnips. At the very end of the commercial in small print toward the bottom of the screen it read "Sponsored by Wachovia Bank". WHa-a-a-a-a-a-T ??
They were "allowed" to spend money producing and buying air time for a commercial for a non-profit institution but not allowed to spend money on marketing their brand by sponsoring a sporting event.

Who's in charge? As the current administration would say,
"Pay no attention to that man behind the curtain".