Earlier this summer, Smashing Pumpkins frontman Billy Corgan spoke out against the touring “nostalgia acts” recently put on by bands from the so-called grunge generation, saying such reunion treks “subvert the original meaning of the grunge generation’s music, which is rebellion.” Now Corgan is back at it, going so far as insisting that these days such groups are just going after the filthy lucre  – and this time around, he’s also naming names.

“There are those bands that are essentially coming back only to make money — playing their old albums, and maybe somewhere in the back of their minds they’re thinking there might be a future,” Corgan tells the Philippine Star. “I am not in that business, obviously. I condemn anybody who’s in that business but doesn’t admit [he’s] in that business.”

“When Soundgarden came back and they just played their old songs, great,” he adds. “I was a fan of Soundgarden, but call it for what it is. They’re just out there to have one more round at the till; same with Pavement and these other bands.”

Crogan insists his own group has totally different priorities. “You have to make music for 2012,” he explains, saying doing so is the only way to court new ears for his band, which in turn assures they live to play another day. “Without the young fans there is no future for Smashing Pumpkins,” Corgan adds. “We can’t run an oldies business. Not only is it boring, it’s actually not a very good business.”

Perhaps Corgan doesn’t realize that Soundgarden actually recently recorded a new album, which they expect to release some time this fall, and even scored a No. 1 rock hit at radio earlier this year with ‘Live to Rise’ off the ‘Avengers’ soundtrack.