WHAT SHOULD I BE DOING INSTEAD OF THIS?
 
February 25th, 2009 By | News | Posted In: Government, Financial Crisis, Bailout

Driehaus Pissed at Partying Bank Getting Federal Funds

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U.S. Rep. Steve Driehaus, about two months into his new job representing Ohio's 1st District, is one of 18 Democratic members of the House Financial Services Committee to send a letter to the CEO of Northern Trust in Chicago warning him to stop spending federal TARP bank bailout money on golf tournaments, parties and posh hotels. Committee Chairman Barney Frank initiated the letter to "insist" that the CEO "immediately return to the federal government the equivalent of what Northern Trust frittered away on these lavish events."

I'm not sure the letter will recover any TARP funds, but perhaps it shows that Congress is beginning to understand the growing public anger at the lack of oversight and accountability for how bailed-out banks are using taxpayer money.

 
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