Spending hypocrisy by the Obamas

The tale of private investment bank Northern Trust Corporation of Chicago, criticized because it sponsored a golf tournament, with proceeds to charity, followed by a private performance starring such popular acts as Earth, Wind and Fire and Sheryl Crow for its top clients and employees, should serve as a warning to other companies--and even private individuals--on the dangers of accepting government money. Learning its lesson, Northern, which received $1.5 billion in government bailout funds, plans to repay the government  "as quickly as prudently possible" while promising future standard practice corporate entertainment will be "appropriate, given the current environment." Leading the sanctimonious criticism of Northern's annual golf gathering, which also rewarded top employees and customers,  was none other than Rep Barney Frank (D-MA), chairman of the  House Financial Services Committee, which oversees Fannie Mae and Freddie Mac.  These...(Read Full Post)