Northern Trust takes a mulligan
25 February 2009 in bailoutAfter receiving $1.6 Billion in bail-out cash, Northern Trust spent millions hosting a golf tournament. You just gotta feel their pain.
Phil Mickelson (shown here looking at the top of the pile of taxpayer money that Northern Trust got) won the event.
Check out the full story on TMZ.com:
Bailout Bank Blows Millions Partying in L.A. - TMZ.com
Just a note - Northern did not need (or ask for) any of this TARP funding. The golf outing was not paid for with any of the government funds, and Northern is planning on giving all of their TARP funding back to the government in response to this. The golf outing raises a lot of money for charity, and frankly, Northern can afford to spend a little. They CAN “blow millions partying in LA.” They actually made a PROFIT in 2008! If more banks were like Northern Trust, our country would not be in the mess we are in, and TARP would be unnecessary. I am proud to be associated with the Northern Trust. Do your research and learn the facts.