Bailed-out bank enjoys concerts, dinners, parties

Amy Sahba
CNN
February 25, 2009

A bank that received $1.6 billion dollars of the government’s bailout money sponsored what reports are calling a lavish series of events in Los Angeles, California, last weekend.

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Northern Trust, based in Chicago, Illinois, spent an undisclosed amount of money sponsoring a Professional Golf Association tournament and associated client events, including concerts, dinners and parties, according to celebrity Web site TMZ.com.

The bank spent millions of dollars on the event, which included — on top of the sponsorship costs of the Northern Trust Open tournament — concerts by Sheryl Crow and Earth Wind & Fire, a private party at music venue House of Blues and gift bags from Tiffany & Co., the Web site said.

According to TMZ.com’s report, employees and clients attending the tournament dined on seared salmon and petite Angus filet and stayed at some of Los Angeles’ most elegant and expensive hotels.

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