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Only In America: John Oliver On Taxpayer Funded Stadiums

FYI: Cities spend massive amounts of public money on privately-owned stadiums. Cities issue tax-exempt municipal bonds that — wait, don’t fall asleep!
Regards,
Ted
http://www.ritholtz.com/blog/2015/07/john-oliver-on-taxpayer-funded-stadiums/print/

Comments

  • I've pretty much given up on watching all mainstream sports. Can't get all these things out of mind. No one thinks of financial misdeeds in fields like sports. It is not natural. Same used to be the case regarding private colleges until it became a real in-our-face problem. It is simply not natural to think this way until we realize everything is a business, and where there is business, there will be corruption.

    Speaking of which, wonder if people learn how to do this in college/business school.
  • The thing that's so funny about it is what is a sports team other than the current players and its physical locale and fan base? So if you take the Brooklyn Dodgers and move them to LA, then years down the road when all of the players have changed are they still really the Dodgers anymore? All they have is the name but the product itself has completely changed. Without the Brooklyn locale and the local fan base and the original players it's a completely different team. It's like these cities are desperately trying to hold onto a nostalgic pastime that loses all meaning once the greedy owners void the social compact of staying in the city that made the team famous. It's not the players who disappear in a handful of years that make a team. The city itself is the team. Yet the cities and the people in them are bending over backwards to satisfy the owners' greed. It should be the other way around.
  • edited July 2015
    Ted says: "Yet, for their own selfish interests a tiny few think this is a social site where anything goes including tabloid material, politics, religion, or whatever.

    @Ted: I hereby classify this post as a "whatever", Ted. (You've appointed yourself to be in charge, I've appointed myself as the classifier-in-chief.)
  • I have to agree. OJ. lol. this would be a "whatever".
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