Michael Phelps Suspended by USA Swimming, Loses Allowance

Michael Phelps continues to face the grave consequences of smoking a bong. He's suspended for three months by swimming's national governing body,which means no financial support. Ouch, we guess?

This is only slightly more embarrassing than Phelps' other punishment, today's loss of a cereal deal that expired this month anyway, for Corn Flakes, which Phelps doesn't even eat.

With $100 million in expected lifetime endorsements, we're guessing Phelps isn't living on USA Swimming's stipends. But the suspension will not help his image, given the message it sends:

"We decided to send a strong message to Michael because he disappointed so many people, particularly the hundreds of thousands of USA Swimming member kids who look up to him as a role model and a hero," the federation said in a statement.

Subway was reported to be on the fence about Phelps following the bong incident; maybe the suspension will push the sandwich-seller to sever ties. Pot smokers aren't known for their love of petit, low-calorie processed-turkey sandwiches anyway.

On the other hand, USA Swimming can't be that mad at the Olympic champion. His suspension will end just in time to let Phelps participate in the 2009 World Swimming World Swimming Championships in Rome, broadcast on NBC for the first time this year, thanks to Phelps. He'll be fine.