So I heard about the party that Northern Trust threw after receiving $1.6 Billion in the bailout. As I read the article, which is available here. A couple of sentences caught my attention.
Now how’s this for outrage? Northern Trust laid off 450 workers in December, 4% of its workforce.
And here’s what’s absolutely amazing: The United States Government flat out gave Northern Trust the $1.6 billion in bailout money, and the bank didn’t even request it!
They have said that they didn’t use bailout money for the event. But, if they didn’t have the bailout money, would they have had to use the money for this event to pay for things that they paid with bailout money?
As I searched for this article, I found another interesting post about Obama’s connection to Northern Trust. Northern Trust connections to Obama
The good news is that this might have gotten Congress’ attention because they seem to be deciding to introduce new legislation.