Taxpayers: In TMZ We Trust - $1.57 Billion in bank bailout money returned

[cbdo2007]

Taxpayers: In TMZ We Trust
Posted Jul 21st 2009 2:00AM by TMZ Staff

We never really thought we could say this ... but TMZ just helped enrich America ... to the tune of nearly $1.6 billion.

Remember our story about Northern Trust -- the bank that took federal bailout money and then hosted a lavish golf tourney in L.A. and catered swanky dinners with live entertainment from Sheryl Crowe, Chicago and Earth, Wind & Fire? And all the ladies got Tiffany gift bags. And we got video of the whole thing....

Well Barney Frank and other members of Congress were so pissed, Northern Trust agreed to return the money. We checked every week to see if the money was returned ... nothing. Until a few weeks ago!

Northern Trust has returned $1,576,000,000 -- that's $1.576 billion returned to the government.

You're welcome.

http://www.tmz.com/2009/07/21/taxpayers-in-tmz-we-trust/

[cbdo2007]

1. stupid banks...serves them right!

cheaters!@!!

[TexasObserver]

2. Recommend

[HamdenRice]

3. More evidence that the TARP money was not a free money gift to banks. They paid it back.

I hope this is sinking in to DUers who believed that TARP money was a gift. This is also more evidence that TARP may in the end not cost the federal government very much.

[RB TexLa]

4. Will they now let JPM, BAC and Wells pay theirs back? They all three want to pay it back

but everytime they meet the stipulations, the government changes the rules.