You Know the Banks Have Fucked Up With the Government Bailout...

...when even a celebrity gossip site like TMZ.com is devoting a post to this. TMZ has exposed how Northern Trust spent $1.6 billion in government bailout money on all sorts of stuff like a fabulous cocktail party at the Lowes Santa Monica Beach Hotel and a special clients and employees-only concert performed by Chicago.

This went on despite the fact that Northern Trust laid off 450 workers (4 percent of its workforce) last December.

And people have been getting outraged over Nadya Suleman giving birth to octuplets even though she's unemployed, collecting disability payments, living with her parents, and is already the mother of six other children. While it's possible that Nadya Suleman may be gaming the system and getting access to California taxpayers' money that she has no right to get, the money she has earned is nothing compared with how Northern Trust has squandered a whopping $1.6 billion in taxpayers' money. And Northern Trust is not the only institution who have misused bailout money like that. Personally I think people should focus their anger on the banks and Wall Street firms who are spending taxpayers' money on expensive vacations, luxury goods, and buying out smaller banks instead of Nadya Suleman.