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OpEdNews Op Eds    H3'ed 2/24/09

Northern Trust of Chicago parties with the tax payer's money

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Message Mary MacElveen
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In this age of transparency, I am livid to say the least when TMZ just reported, “Northern Trust, a Chicago-based bank” which received $1.6 billion in bailout spent it selfishly. The most egregious act by this bank is that they laid off 450 workers.


How did they spend this money you may be asking? “Northern Trust flew hundreds of clients and employees to L.A. and put many of them up at some of the fanciest and priciest hotels in the city. We're told more than a hundred people were put up at the Beverly Wilshire in Bev Hills, and another hundred stayed at the Loews Santa Monica Beach Hotel. Still more stayed at the Ritz Carlton in Marina Del Rey and others at Casa Del Mar in Santa Monica.”


As a citizen and taxpayer of this country, I demand that they return this money pronto, henceforth and any other term one can use.


This is exactly the type of greed which has caused an economic meltdown where we may no longer cease to exist as a country, yet, this bank clearly does not see it.  What do they think this is the eighties of trickle down economics and an unbridled orgy using tax payer’s money?


As people are trying to make it day-by-day where some may not eat tonight, oh just read this part where this bank using our tax money wrote a check which covered the cost of a, "$6.3 million purse, the advertising costs for the spots on CBS (which broadcast the final two rounds of the tournament) and operating costs. The rep says the fee was negotiated and is confidential." No such transaction which includes our tax dollars should be confidential when all we scream for is transparency.


What I find appalling is this item, "The United States Government flat out gave Northern Trust the $1.6 billion in bailout money, and the bank didn't even request it!" To President Barack Obama, Senate Majority Leader Harry Reid and Speaker Nancy Pelosi, we want our money back.  Please name for we the people who wrote this check.  We would really love to know.  Who signed off on it?  That person or persons must answer to all of us.


It is highly imperative that as each check goes out that is contained within any bailout, those who receive them are named.  How they use these funds backed by our hard earned tax money should also be required to show exactly how these funds are being used.  If this criteria cannot be met, then no bailout money should be given.


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I am a writer who currently writes pieces for my own blog I have been published by, and I was a guest on the Jay Diamond Radio Show on WRKO in Boston and have (more...)
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