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Frank to Bank -- You're a Fritterer

2/24/2009 5:51 PM PST BY TMZ STAFF

TMZ just obtained this letter that Congressman Barney Frank wrote to the president of Northern Trust:

Barney Frank

102 COMMENTS

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31.

QE2    

Better yet, since the banking industry basically has no federal regulation-they basically govern themselves-Congress should use this as a reason to make all the banks give an accounting of how they spent taxpayer money to stimulate the economy.

1966 days ago
32.

adamsmithjunior    

A) They contracted for this event more than a year ago.
B) They are a profitable bank that caters to rich people.
C) Marketing events such as this will keep them profitable so they can pay the preferred stock dividends to the government and eventually buy back the government's investment in preferred stock.

1966 days ago
33.

Roger Moore    

Barney Frank the pride of the 4th district. This sperm burping gutter slut is a complete imbecile.

1966 days ago
34.

ss    

number 14.
thats funny as hell

1966 days ago
35.

thewatcher    

Most of the commentators don't have a clue what is going on here. Northern posted a profit of over $300million in the 4th quarter. Stop assuming that every expense at these banks is being paid for out of bailout funds.

It's quite obvious that Northern's unsolicited receipt of TARP funds (along with a number of other banks) was an effort by the government not to call out those with weakened balance sheets.

Let them enjoy their scallops in silence.

1966 days ago
36.

sweetascandy    

Thank you Northern Trust for not canceling your event!
Your event probably saved the jobs of a few hundred people for another week!
How many employees were kept on by the hotels, food & beverage companies, car rentals & limo divers down to the golf course staff?
The money spent went towards a tough economy and saved a few more dollars that would have been spent on unemployment.

1966 days ago
37.

DontgiveUp    

What did Barney think was going to happen when he was the RING LEADER of this so called Bail Out Bill and was so picture friendly prior to it passing, He had to be right in the front of all the press confrences where the pictures where taken and the press was gathered. '' WHAT A DOG AND PONY SHOW '' He never put any regulations into this bill so what did he think was going to happen. I am sure he received a lot of $$$$ from the BANKING employees and BANKING lobbyist for this '' DOG AND PONY SHOW '' and now he's trying to stop his own mistakes and trying to blame the past administration for giving the $$$$ MONEY out. Hey Barney you have to Admitt before you can Comitt - That it was YOUR finger prints all over that DOG AND PONY SHOW bill you wrote and passed before you pick up the crap on the floor. Time to GO BARNEY.

1966 days ago
38.

wondering    

what about the $400million citigroup spent on the new baseball field in New York. called citifield ,. Are there two different standards, seems to me that they should return that amount also.

1966 days ago
39.

jschultz    

HAS ANYONE EVER BEEN THE BENEFICIARY OF AN ESTATE, HANDLED BY NORTHERN TRUST? TRUST ME...YOU DON'T WANT TO BE. WE WERE THE BENEFICIARY OF AN ESTATE THAT IT TOOK NORTHERN TRUST 3 YEARS TO FINALLY CLOSE (TYPICAL FOR CHICAGO). BY THE TIME WE GOT THE STOCK, THE STOCK WAS DEPLETED. THIS BANK IS JUST AS INCOMPETENT AS ALL OF THE OTHERS. THEY SHOULD GIVE THE MONEY BACK.

1966 days ago
40.

mickey lou    

Frank is a problem! He is one of the main causes of the banks failures! He is a complete idiot! Thanks Boston for giving us this arrogant jerk!

1966 days ago
41.

QE2    

#30 thewatcher,

Agreed, Northern Trust is a solid bank. All I am saying is that this is an opportunity to try to make banks accountable regarding how the stimulus money was spent. Obviously, they can't be forced, but public outcry goes a long way in business.

1966 days ago
42.

Quantum    

Good work Barney - someone has to keep these nepotists accountable.

1966 days ago
43.

jschultz    

HEY...I CALLED THE WHITEHOUSE TO COMPLAIN. THEY SAID....WHAT PARTY?

1966 days ago
44.

I Smell Michael Burning in Hell - AHHHHH! AAAAAH!    

Leave it to polesmoker Barney Frank to get the story completely wrong. These events were bought and paid for from operating expenses 7 months ago. Northern Trust only accepted government money when they were threatened into doing so along with several other solvent banks.
Oh, and Sheryl Crow got $1 million for her gig.

1966 days ago
45.

RCIR    

Go get 'em Barney...

1966 days ago
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