Rep. Bill Pascrell Jr. says Barlcays, an indirect recipient of federal bailout money, should be barred from buying naming rights to the new Brooklyn arena.
Rep. Bill Pascrell Jr. says Barlcays, an indirect recipient of federal bailout money, should be barred from buying naming rights to the new Brooklyn arena.
Of course, there may be a little parochialism here: Pascrell is from New Jersey, which not so coincidentally is home to the Nets’ current home, Izod Center. And without the naming-rights money from Barclays, the arena would be facing some serious financial issues.
And, technically, Barclays hasn’t directly received a dime of U.S. money: the firm received billions indirectly as a result of the AIG bailout. Money, Barclays would say, is owed to it.
So let’s chalk this up to political grandstanding from a New Jersey pol who knows darn well there’s literally no political fallout from him working to keep the Nets in New Jersey.
