Northern Trust

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Obama Makes Big Money With Wall Street Speeches

Bloomberg reports on 3, with his going rate about $400K per speech

(Newser) - Barack Obama took flak earlier this year when it emerged that he would collect a handsome $400,000 fee for speaking at an event for investment bank Cantor Fitzgerald. It appears that the criticism isn't fazing him much. Bloomberg reports on two more Wall Street speeches for the former... More »

US Reaps Profit as Banks Pay Back TARP Funds

Fed pulls in $14B from loan programs

(Newser) - When the government spent some $240 billion last year to help avert financial disaster, the idea of making a profit from the TARP funds invested in teetering banks looked like a long shot. Now, however, profits from eight banks who’ve paid back the cash have totaled some $4 billion,... More »

Outrage Over Bank's Golf Tourney Is Misplaced

(Newser) - “Golf, with its traditional fat-cat image, is an easy target for abuse, some of it deserved,” John Paul Newport writes in the Wall Street Journal. But the recent hubbub over Northern Trust’s sponsorship of a PGA tourney—that bank received $1.6 billion in TARP funds—threatens... More »

Bailed-Out Bank Drops Millions on LA Golf Bash

$1.6B recipient sponsors open, hosts parties, concerts

(Newser) - A bank that got $1.6 billion in federal bailout cash lived it up last week in Los Angeles with luxe parties and concerts as it sponsored a PGA golf tournament, TMZ reports. Northern Trust flew hundreds of workers and clients to LA to stay in swanky hotels, eat classy... More »

Obama Got 'Good Deal' on Mortgage

Better-than-average rate on $1.32M loan raises eyebrows; bank says it's not unusual

(Newser) - Barack Obama is taking heat for accepting a better-than-average interest rate that saves him $300 a month on his $1.32 million mortgage, the Washington Post reports. The 30-year, fixed 5.625% rate on the Democrat's Chicago home was under the 6% being offered other buyers in June 2005 by... More »

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