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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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76.

hahahahahha!!!!!    

Barney Frank has nearly soley destroyed the economy himself with his criminal oversight and insistance over Fanny Mae and Countrywide. This POS should be removed from office immediately. Dumbass kooks in Mass. keep voting his perverted ass back.

1897 days ago
77.

Colliemom    

Good job! Please keep up this kind of work. We the people need investigative journalism such as this. How about blowing the lid off of scary cap and trade or the national healthcare fiasco?

1897 days ago
78.

Miss Bu    

koodoos to TMZ can you go atfer AIG now.

1897 days ago
79.

FinanceChick    

Seriously? It actually made me laught out loud that TMZ "thinks" (and I use that word loosely) that they played any sort of role in Northern Trust's re-payment of the mandated TARP $$$$. They never needed it, didn't want it, and was only forced to take it (along with other healthy banks) so that the failing banks could not be identified. TMZ- -Stick to what you know best. I know! I wonder what's going on with MJ? Maybe you can talk about his will? You haven't covered his death or any issues surrounding it in over 30 minutes, so get on it!~

1897 days ago
80.

Linda    

Way to go TMZ. Only a thousand more scams to be exposed. Go for it!

1897 days ago
81.

DonewithTMZ    

TMZ is a boatload of morons. If any of you were true journalists, which none of you are, then you would have known that Northern Trust NEVER asked for TARP money. They were forced to take the money and then made to look like crooks by human tumors such as yourselves. Stick to chasing celebrities, that's the only thing you jackoffs have the brains for.

1897 days ago
82.

Chris Callahan    

TMZ didn't break anything. Northern Trust was forced to take the bailout money by the government (as were a handful of other healthy banks). They didn't need any of the money and decided to return it earlier then scheduled when they received such bad press and misguided outrage by organizations such as TMZ.

I love you Harvey Levin but your facts are wrong on this one.

1897 days ago
83.

sawzall    

Congrats guys! WELL DONE!!

I have to ask, have you considered applying your dogged style to a spinoff site that simply pursues government waste and puts it on blast daily ?

TMZR , TMZ Revolution perhaps ? If you guys pursued the government waste as hard as you did celebs, you could probably saved the country several tens more billions!

Think about it.......

1897 days ago
84.

hahahahahha!!!!!    

If TMZ is so interested in this bank, then why not investigate how they and Obama broke the law by giving him an illegal below market rate on his house?

1897 days ago
85.

hahahahahha!!!!!    

Why does TMZ love Barney Frank so much? Is it because Harvey is an equally perverted freak like his hero?

1897 days ago
86.

hondo24    

Awsome job TMZ ,thanks for looking out for tax payers. To Jack who posted a comment earlier and didn't like what TMZ did, your an idiot.

1897 days ago
87.

Girl-E Girl    

Awesome Job TMZ!!!!!!!

1897 days ago
88.

Jaye    

Even if the Government didn't really "bail" out Northern Trust when they were given this money, it looks like they would have been somewhere down the road.

I mean, really. Corporations throwing big parties with celebrities and giving aways bags of gifts from high-end retailers like Tiffany's is why America is having the debt troubles it is. Everyone's so damned greedy and materialistic that EVERYTHING is spiraling out of control.

For our company holiday parties (and I work for an Ivy League university that brings in 10s of millions for their endowment), we ALL bring in our own dishes. That's the way it needs to be for all of these so-called corporate parties. Enough with the flossing and bling-bling mentalities.

1897 days ago
89.

Michelle Dean    

Wow - you are all so dedicated - thank you very much for not only breaking the story, but for following through until the end.

I think your boss needs to host an employee only party with gift bags to show his appreciation! =)

1897 days ago
90.

bui504    

TMZ ROCKS!

1897 days ago
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