All posts containing the tag: "Barney Frank"
Posted Jul 21st 2009 2:00AM by TMZ Staff
We 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.
Filed under: Celebrity Justice, Politix
Tags: barney frank, earth wind and fire, goverment bailout, northern trust, NorthernTrust, sheryl crow
Posted Mar 31st 2009 1:38PM by TMZ Staff
Happy birthday to 69-year-old Barney Frank. The congressman from Eastern Massachusetts will have a "nice, private dinner" with his boyfriend tonight. As for gifts, the Chairman of the House Committee on Financial Services reminded us of that pesky federal law ...
We think we like this Barney even more than the dinosaur!
Filed under: Politix, Exclusives
Tags: Barney Frank, BarneyFrank, birthday, Congressman, Massachusetts, video
Posted Mar 1st 2009 3:04AM by TMZ Staff
How's this for action. Northern Trust -- the bank TMZ exposed this week for throwing a series of lavish parties and concerts in L.A. -- is giving back the $1.6 billion in federal bailout money!
We had our cameras out as the bank hosted fancy dinners for hundreds of clients and employees. We had video of the Sheryl Crow concert it threw after closing down the House of Blues. And then there were concerts by Chicago, as well as Earth, Wind & Fire ... and the Tiffany gift bags for the ladies.
The story triggered a furor in D.C. ... Congressman Barney Frank demanded that Northern Trust repay the money it blew.
Outrageously, the bank didn't even ask for the bailout money in the first place. But now, under pressure, Northern Trust CEO Frederick Waddell sent a letter to members of the House Financial Services Committee, saying his bank will repay the government funds "as quickly as prudently possible."
Filed under: Celebrity Justice, Politix
Tags: 1.6 billion, 1.6Billion, bail out, bailout, bailout money, BailoutMoney, banks, barney frank, BarneyFrank, billion, CEO, chicago, earth wind and fire, EarthWindAndFire, federal, finance, financial crisis, FinancialCrisis, frederick waddell, FrederickWaddell, government, government funds, GovernmentFunds, governmentloans, house financial services committee, house of blues, HouseFinancialServicesCommittee, HouseOfBlues, lavish parties, LavishParties, northern trust, northern trust bank, NorthernTrust, NorthernTrustBank, repay money, RepayMoney, sheryl crow, SherylCrow, tax payers, taxes, TaxPayers, tiffany bags, TiffanyBags, washington dc, WashingtonDc
Posted Feb 24th 2009 3:51PM by TMZ Staff
TMZ just obtained this letter that Congressman Barney Frank wrote to the president of Northern Trust:
Filed under: Celebrity Justice
Tags: apology, bailout, Barney Frank, BarneyFrank, Congress, Congressmen, demand, money, Northern Trust Bank, NorthernTrustBank, president, return funds, return money, ReturnFunds, ReturnMoney
Posted Feb 24th 2009 10:50AM by TMZ Staff
Congressman Barney Frank just told TMZ he is sending a letter to Northern Trust, demanding that the bank pay the government the equivalent of what it spent last week on lavish parties and concerts in L.A.
Frank, Chairman of the House Committee on Financial Services, is sending the letter on behalf of the Committee.
Frank is also asking Northern Trust to return the $1.6 billion in bailout money to the government. Northern Trust didn't ask for the money when Former Treasury Secretary Henry Paulson doled it out. The new law actually allows banks that didn't need the money to return it.
Frank also scoffed at the boondoggle, saying Northern Trust should have spent that money making loans and stimulating the economy. He called the Northern Trust Open an "ego thing" that has nothing to do with good business.
Senator John Kerry also weighed in on TMZ's story, calling Northern Trust's L.A. extravaganza "disgusting and stupid
and pathetic."
UPDATE: Congressman Brad Sherman said, "Wall Street is laughing at us saying, 'we got to keep your money and our lifestyle is unchanged.'"
Senator Sherrod Brown said, "A lot of banks seem to be talking out of both sides of their mouths. When we ask what they are doing with taxpayer funds, they claim it's impossible to track the money because it is fungible. But when it comes to paying for parties, all of a sudden an enormous wall divides the TARP money from everything else. They cannot have it both ways."
See what other congresspeople have to say... after the jump.
Click here... it's not over yet
Filed under: Celebrity Justice, Exclusives
Tags: apology, bailout, Barney Frank, BarneyFrank, Congress, Congressmen, demand, letter, money, Norther Trust Bank, NortherTrustBank
Posted Jan 7th 2009 12:05PM by TMZ Staff
The Congressman from Massachusetts only had one piece of advice for the stars who can't get their grubby little mitts on a ticket to the Obama inauguration ... "run for Congress!"
Maybe Scarlett Johansson can score an extra ticket from Roland Burris.
Filed under: Politix
Tags: barney frank, BarneyFrank, Inauguration
