It seems that there are several concerned in Washington about the massive spending spree that went on with money from Northern Trust. What appears to be a rampant abuse of taxpayer money has a few feathers ruffled. Golf outings, Cheryl Crow concerts and drinks, drinks, drinks… Party on finance-boys!
Oh, by the way, maybe someone should tell Northern Trust management that they need to lay low and not spend TARP money for a while, until confidence is restored. At least until you can provide returns worth partying about. Your 2008 numbers are horrific, and these below include the 50% bond exposure for the family.
Below is a letter from TMZ – Celebrity News, said to be authentic. Though there is no actual letterhead or signatures, it is surely what is on the minds of the signers…
(Here is another article on the subject.)