No accountability, whatsoever

Exhibit #23,984,392 why government has no business redistributing money. Period.

The economy is croaking and bankers are still partying at a golf tournament here on our dime.

The entertainment Web site TMZ broke the story Tuesday that Northern Trust of Chicago, which got $1.5 billion in bailout money and then laid off 450 workers, flew hundreds of clients and employees to Los Angeles last week and treated them to four days of posh hotel rooms, salmon and filet mignon dinners, music concerts, a PGA golf tournament at the Riviera Country Club with Mercedes shuttle rides and Tiffany swag bags. “A rep from the PGA told us Northern Trust wrote one big, fat check in order to sponsor the event,” TMZ reported.

In what is now an established idiotic ritual of rationalization, the bank put out a letter noting that it “did not seek the government’s investment” even though it took it, and that it had raised $3 million for the Los Angeles Junior Chamber of Commerce Charity Foundation and other nonprofits. They riposted that they have a contract to do it every year for five years; but this isn’t every year.

The bank cloaks itself in a philanthropic glow while wasting our money, acting like the American Cancer Society when in fact it’s a cancer on American society.

It asserted that it earned an operating net income of $641 million last year and acted as though it did Americans a favor by taking federal cash.

I would ask Northern No Trust: If you’re totally solvent, why are you taking my tax dollars? If you’re not totally solvent, why are you giving my tax dollars to Sheryl Crow?

Writers like Dowd tend to focus on how these abuses show the evil side of big business. Fair enough. But this level of abuse couldn't happen if the federal government hadn't acquired the previously prohibited power to reach directly into Americans' paychecks, then decide how best to spend "our" money. I'm thinking I could figure out a lot more productive ways (both for me AND society) to spend $11,000+ than any room full of bureaucrats ever could. But hey, I'm just selfish that way...

The collusion of government and business to pickpocket what's left of the economy, like vultures picking clean a carcass, is getting more blatant by the day. Maybe that's what has them all nervous enough to figure they need to reinstate the assault weapons ban. But relax, it's only the fringe elements that are stockpiling arms, right?