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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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31.

Fan Since 2007!!!    

exposing

1732 days ago
32.

jlee    

Good job! Makes up for the incessant MJ reports...when do you stop those?? Please???

1732 days ago
33.

marie    

Hmm....so what happened to the rest of the $$? That must have been one helluva party!!

1732 days ago
34.

Fan Since 2007!!!    

Even with a Democratic majority Barry is pissing off his own party. First with the denial of funds for closing Gitmo and now the Health Care Bill. Even Colin Powell is reconsidering his endorsment (search Examiner.com) At this rate Republicans will regain their seats by the 2010 elections!

1732 days ago
35.

GRouston    

GOOD JOB! Keep it up, expose the government, politicians like you expose the individuals, get the truth and then the American People can use wisdom and discernment, take action and we will take this Great Ciountry back as ONE NATION UNDER GOD, Government for the people, by the people and of the people.

1732 days ago
36.

SickofTMZ    

Oh, I am real sure Barney Frank had a lot to do with it. Give me a freakin break. They need to haul his a$$ out of the capitol building, tie him up and let Americans pelt him with....whatever they can find. He is one of the main reasons we are in the mess we are in. And they keep voting these criminals into office. WAKE UP SHEEPLE!

1732 days ago
37.

economist    

This is hilarious. TMZ did nothing but mis-represent the facts. The federal government FORCED several banks including NTrust, Goldman, JP Morgan, and others to TAKE funds whether they wanted them or not. Why? So, that the failing and mismanaged banks would not be singled out thus starting a run on those weaker banks and a more widespread collapse of the financial system (see, if only the banks in danger of failing received funds then everyone would know and get their money out). Then, once the unwanted money was distributed, the government jumped in and tried to excessively control the healthy banks activities....pissed off the healthy banks....and those banks rapidly moved to repay the money so they could operate without excessive government influence again. You will notice that JP Morgan and Goldman have also paid their funds back recently. Did TMZ make this happen too? Maybe TMZ can get Barney Frank kicked out of office...THAT would be worth cheering about.

1732 days ago
38.

Miia    

Good Work TMZ.
Does this surprise anyone? It doesnt surprise me, they all are a bunch of crooks and thieves

1732 days ago
39.

Jo    

AWESOME JOB TMZ!!!! Enjoy your show too....and Harvey is HOT!!!

1732 days ago
40.

SP    

Well what is TMZ going to do about Barney Frank & the rest of these so called leaders who are ripping off the American people for a whole of a hell lot more than this?

1732 days ago
41.

Marc    

TMZ, nice investigative work!

1732 days ago
42.

MindTerrorist    

WHO GIVES A RATS ASS!!!!!

1732 days ago
43.

MindTerrorist    

Harvey!!!!!.....How Much Cut do you get?

1732 days ago
44.

Hugh Gentry    

TMZ needs to stay the hell away from anything that has to do with the economy. What does this have to do with celebrity?? Don't get involved in something that you know nothing about.

1732 days ago
45.

Allie    

Yay, TMZ!!!

1732 days ago
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