City Paper is not for tourists
I can’t predict much about our nation’s financial future from watching President Obama’s press conference last night. But I will guess this: There won’t be another EagleBank Bowl this year.
I’ve got no insider information. But there just ain’t no way.
Financial institutions and the general public were no longer Facebook friends by the time the inaugural EagleBank Bowl drew about 28,000 to RFK to watch Navy and Wake Forest in December.
Oh, there was some whining about EagleBank spending at least $1 million to sponsor the first and leastest of the season’s 32 NCAA-sanctioned bowl games. This after the Bethesda-based chain accepted $38.2 million in TARP money from the Bush administration’s first round of bank handouts.
And after the bowl, MSNBC reported that the company doled out $2 million worth of bonuses, including stock options, to its top officials, right around the time Eaglebank announced its pre-bailout profits were down significantly.
But in the months since the game, there’s been a big uptick in the level of hate common folks have for that sorta bank behavior, coinciding with the big uptick in federal money being given to the fiscal big boys.
According to a source involved with the bowl’s formation, the NCAA will decide next month whether to re-sanction the DC bowl.
And then it’ll be up to EagleBank to decide if it’s going to pay to put its name on the game again.
EagleBank isn’t AIG. It’s got only 14 branches, all in this area. And the EagleBank Bowl isn’t CITI Field.
But, still. There ain’t no way.