's take on Northern Trust

Posted by: Chris Palmeri on February 24, 2009

You know the economy is front and center in the national psyche when, the celebrity gossip site best known for breaking the news of Mel Gibson’s drunk driving arrest is now writing about the bank bailout.

In this latest expose, big bank Northern Trust, a recipient of federal bailout funds is shown parting it up in Los Angeles, with not just a golf open but private parties at a Sunset Strip night club, Tiffany gift bags, petite Angus filets and concerts by Sheryl Crow and Chicago.



BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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