"I intend to hold these banks fully accountable for the assistance they receive, and this time, they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer. This time, CEOs won't be able to use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet. Those days are over."Meanwhile back at stately Wayne Mansion (actually Beverly Hills), Northern Trust Bank just finished up a week of expensive hard partying. Yes, the Northern Trust Bank that accepted $1.6 billion in bailout money is living it up in La La Land (on your c-note, btw).
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.In their defense, there's no indication that Northern Trust spent money on the 450 employees they laid off just before Christmas last year.
Here are the highlights:There was also a fabulous cocktail party at the Loews. And how's this for a nice touch: Female guests at the Chicago concert all got trinkets from ... TIFFANY AND CO.
- Wednesday, Northern Trust hosted a fancy dinner at the Ritz followed by a performance by the group Chicago.
- Thursday, Northern Trust rented a private hangar at the Santa Monica Airport for dinner, followed by a performance by Earth, Wind & Fire.
- Saturday, Northern Trust had the entire House of Blues in West Hollywood shut down for its private party. We got the menu -- guests dined on seared salmon and petite Angus filet. Dinner was followed by a performance by none other than Sheryl Crow.
But thankfully, according to Pres.O. these days are over. Yeah. Right.
tagged: Obama, bailout, Northern Trust, speech, politics, economy
he will strike them with the bolt of lightening
ReplyDeleteI still love the whole "...THIS TIME..." bit. Oops! We fucked up and didn't put any stipulations on that first batch o' cash given out a couple of months ago. We sowwy! It won't happen again, because THIS TIME, we know what we're doing!
ReplyDeleteYeah, right. Suuure you do.
I'm also tired of hearing that I should be forgiving of my neighbors* that accidentally purchased homes that were way out of their monetary means. I don't see why I should soften my heart to people who fucked up my property value in such a flagrant manner, and now need a good deal of assistance in some form or another in order to save their sorry asses. I feel sympathy towards those who lost their jobs, and subequently can't pay their mortgage. But those who willingly walked into a situation where they couldn't figure out that they needed to make a good deal MORE THAN their monthly mortgage are nimrods. I think they should be feeling more sympathy for ME, dammit. And baking me cookies to make up for it. (I like chocolate chip and peanut butter, thanks.)
*I actually don't have any neighbors that were this stupid on my block. We're pretty solid right now, actually. I guess that's one advantage to, oh, I dunno...living within one's means and buying a small ranch house in a decent area.
I'm sorry I don't have time to post a substantive comment, but I'm too busy watch my 401(k) do an impression of the Hindenburg every time a politician opens his/her mouth.
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