Morning Money Quotes

The DCist on D.C. United’s bid to extract some corporate welfare out of Prince George’s County, Maryland:

The Post is reporting that team officials and the Maryland Stadium Authority are now asking that the county kick in at least $47 million towards the construction of the 24,000-seat stadium, which is estimated to ring in at $180 to $195 million. Of that amount, the team would cover 25 percent and the state and county would sell bonds to cover the remainder, which would be repaid with ticket revenue.

Speaking of corporate welfare, the City of San Diego is having trouble making payments on Petco Park (HT: Shysterball):

In the past, San Diego used its general fund – which pays for parks, libraries, fire and police services – to make debt payments.

But faced with a $54 million deficit in the fiscal year that will start July 1, council members decided unanimously that the money for the debt service should no longer come out of city coffers.

And staying on the topic of pointless tax expenditures, here’s Rick Telander on Chicago’s bid to snare the 2016 Summer Olympics:

None of them will tell you, for instance, that ”jobs created” can include hot-dog vending, janitorial work and T-shirt selling — fine careers, indeed.

Nor will anyone point out that Olympics-filled hotels might have been filled anyway with normal tourists and business visitors.

The NYT on the guilty plea of Bernie Madoff, the white-collar crook whose victims included Sandy Koufax, Mets owner Fred Wilpon, and many other sports figures:

While his fate will not be certain until he is sentenced, his lawyer told a federal judge on Tuesday that he intended to plead guilty on Thursday to all the criminal charges that federal prosecutors had filed against him — a list that could yield a prison sentence of 150 years.


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