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Taxpayers: In TMZ We Trust

7/21/2009 3:00 AM PDT BY TMZ STAFF

Taxpayers: In TMZ We TrustWe 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.

130 COMMENTS

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1.

Go0se    

Nice stuff tmz

1922 days ago
3.

whitey    

wow good work now follow goldman sachs around, they cant be up to any good

1922 days ago
4.

Jasmine    

It's about time they returned that money! Thank you, TMZ! :)

1922 days ago
5.

KB    

terrific!@!@! Harvey if you were right here, I would hug you but not that dumb blond guy..no hugs for him!@ :)

1922 days ago
6.

Helen    

Wow! Thanks, TMZ.

1922 days ago
7.

elizabevitale    

Way to go TMZ
no hater imposters please

1922 days ago
8.

Kasey    

Nothern Trust was a bank that was NEVER in trouble and did not need the money. The government forced them to take the money. It was a way though a loop hole in the law. Make all banks even those that did not need help take maoney so that they could help those that did. The politcal outrage was the normal BS>

That is why Nothern Trust continued on with their golf tournament. And they returned the money when they were scheduled to return it. It had nothing to do with this story that you "broke".

1922 days ago
9.

to little    

That's 24 million short. So looks like we paid for the crow concert, and probably some bonuses. So don't brag until you make them pay the other 24 million that is still missing.

And had you not broke the story a actual reputable news source would have picked up on it.

1922 days ago
10.

Paparazzo@frog.cc    

TMZ is like Ralph Nader.

1922 days ago
11.

azh01e    

*toot toot*

1922 days ago
12.

savvydude    

Barney Frank? The money returned is already spent by 10,000 over. Obama and Frank are destroying this nation and you feel good about finking about waste? Turn your eyes on the WHite House then and tell us how much waste Obama has spent in just 6 months!

1922 days ago
13.

Sue    

Wow!! Thank you TMZ and Harvey!! Good Lookin' Out!!

1922 days ago
14.

Jack    

Nice job TMZ? Right?

Maybe if you understood how the economy worked you wouldn't be so busy tooting your own horn! Northern Trust was loaned those funds and had to pay interest on them. In turn they used those funds to loan to consumers who needed loans. Now because of you there are less loans for consumers.

Now becasue of you and others, Northern Trust and others cut back on all of their travel costing jobs for a lot of rank and file employees at airports, taxis, hotel and restaurants. Yes, thank you indeed TMZ for your bogus short-sighted, naive understanding.

Yes, Northern Trust had repaid the monty so the Government can use it for sinkholes like GM and grossly overpaid retierment and health benefits for federal employees. Meanwhile Northern Trust's stock is up sharply and they are profitable. All of those employees who lost jobs becasue of less business...they are collecting federal unemployment from the government...

1922 days ago
15.

bob    

Thanks Harvey,,Now Can you Get Rid of These Bandit Paparazzis that think there Press Photographers ,There Gang Members with Cameras

1922 days ago
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