Partying on with our money!

Another bailout pays for their party. Did you know?

The Northern Trust Company has recently received $1.6 billion from the citizens of the United States as part of the government's bailout program.
Recently, the Northern Trust spent millions of dollars to sponsor a golf tournament (The Northern Trust Open at the Riviera Country Club in Los Angeles). In connection therewith, the company incurred the following expenses:

• Airfare for hundreds of clients and employees to Los Angeles.
• Hotel rooms, including rooms at very upscale properties, for hundreds of people.
• Dinner and cocktail parties.
• Chicago concert.
• Earth, Wind, & Fire concert.
• Sheryl Crow concert.

Northern Trust responded that it did not ask for the $1.6 billion but took it only to help the government reach its goal of having the participation of all major banks. It should be noted that Northern Trust is also current with its repayment plan. See Bailout Bank Blows Millions Partying in L.A., TMZ.com, Feb. 24, 2009; Stephen Bernard, Northern Trust faces scrutiny for event spending, AP, Feb. 25, 2009; and Northern Trust, An Open Letter to Northern Trust Shareholders, Clients and Staff, Feb. 24, 2009.

Why do I post this? Because I RESENT my tax dollars going to these institutions. If any corporation is in need of our "bail out" dollars - they should be in bankruptcy and under the supervision of the court and the U.S. Trustees who will ensure that the money goes to the proper places.