Tequila For Tax Dollars

Bailed out bank executives made headlines and peeved Barney Frank again this week with their lavish spending on parties, conferences, and ultra luxurious air travel. Remind me again who’s paying for all this?

The banks will tell you it’s all necessary marketing expense. I get it. When banks spend a lot of money it proves they’ve got plenty to toss around. It’s great marketing - except when you don’t actually have a lot of money to toss around. Or when you do have it, but it’s not exactly yours.

Because it’s ours.

Bloomberg reports:

John O’Connell, a spokesman for Northern Trust, said in an e-mailed statement that sponsoring the golf tournament and related events “is part of a business decision regarding an annual event to show appreciation for clients.” He declined to provide details of what the company spent on the events.

Or what they spent the money on. Now we don’t know for SURE that tequila was served, I’m just guessing. We can all probably agree that shots often lead to bad behavior and these guys could use a good excuse right now.

One thing we do know, those valued clients weren’t sleeping at the Super 8. More like the Ritz Carlton. Maybe Northern Trust really did need to boost everyone’s spirits with high dollar digs and Cheryl Crow. Or not.

But honest and truly my very favorite part of this whole thing –  Celebrity gossip site TMZ broke the story. And here I’ve been wasting my time with those ‘credible’ sources.

Do yourself a real marketing favor and lay off the parties, banker boys and girls.

Image Credit: dearbarbie, Flickr