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Barack Obama -- No I Won't!

2/25/2009 1:52 PM PST BY TMZ STAFF

Barack ObamaWe've been calling the White House for the last day, trying to get a reaction from the Prez on our story about the lavish parties Northern Trust threw in L.A. last week. We finally got a statement back -- "No comment."

Remember, this is a bank that got $1.6 billion in bailout money and blew a wad of cash paying Sheryl Crow, Chicago, and Earth, Wind & Fire. And then there were the dinners, the Tiffany gift bags, the fabulous cocktail parties -- all from the bank that laid off 450 workers in December.

Obama was under fire for a mortgage he got from Northern Trust back in 2005. Obama got a 5.625% rate, which was lower than the going rate of about 6%. The Federal Election Commission recently ruled no laws were violated and the rate was in line with other mortgages.

But "no comment." Really?



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