This comes from Council Member Letitia James regarding the revelation that some of the AIG bailout money is going to other companies, including to Barclay's to meet their commitment for purchase of naming rights to the Ratner Arena:

(Brooklyn, NY) “Staggering, that is the only word for it,” said Council Member Letitia James upon hearing that controversial Barclay’s Bank is receiving money from the federal bailout of insurance giant AIG. Some of the bailout money would likely be used to meet Barclay’s $400 million commitment to purchase the “naming rights” to Forest City Ratner’s proposed 18,000 seat arena in Prospect Heights, Brooklyn.

“Here we have a private bank trying to use taxpayer money to put their name all over a privately-held sports arena. That is clearly not what President Obama intended the Troubled Assets Relief Program (TARP) to accomplish. TARP is supposed to get banks lending to small businesses and homeowners, not to bail out a billionaire and his stalled mega-development,” said Council Member James.  read more »