Today's Outrage: Mets May Get Hit by Bailout Bus

Citigroup (C Quote) is reportedly trying to back out of its $400 million stadium sponsorship for the New York Mets.

Hallelujah!

I can't believe they haven't walked away already. This has been talked about since November, when Citi got $306 billion in federal loan guarantees and its first tranche of the $45 billion in cash it has collected so far from the government's so-called Troubled Asset Relief Program, or TARP.

Of course, if Citi abandons the Mets, somebody will have to pick up the tab. But who? The City of New York is already facing a huge deficit and Mayor Michael Bloomberg is talking about raising taxes. I doubt local taxpayers would like to take an even bigger hit.

Honestly, I don't know who's got any money left these days. Maybe the billionaire mayor himself would like the naming rights -- he's never been shy about putting his name on things. Hey Mike, how about "Bloomberg Ballpark"?

Or maybe the Mets should apply for some federal funds themselves. They could present their financing woes as another mortgage-related casualty of the bad banks.