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 No doubt you've heard that U.S. lawmakers are asking banks under the Treasury's $700 billion Troubled Asset Relief Program such as Northern Trust Corp. (NASDAQ:NTRS) to repay taxpayer money spent on private parties and other perks after its recent sponsorship of the PGA's Northern Trust Open golf tournament. The bank spent around $6.3 million on its Los Angeles party last week, according to BloggingStocks, who's Time Warner Inc. sister site TMZ first publicized the Northern Trust parties. Since lawmakers are at it, perhaps they should -- along with private jets, bonuses, parties, conferences, stadiums, golf tournaments and Tiffany trinkets -- also add lollipops to their list of frivolous spending.
Sure, you might
say, "They're just lollipops!"
Think about it. Those banks are using taxpayer money to dole out little red lollipops to customers at banks and public events. Over time those lollipops could add up to millions in wasted money, especially since no one actually takes just one (you take a handful, come on). According to Spangler Candy Store, which makes Dum Dums Lollipops, a box of suckers can cost anywhere from $50 to $80. So Wells Fargo & Co. (NYSE:WFC) must spend a lot of cash to fill the bowls in its 6,200 branches. - Maria Woehr CategoriesComments Deal Video
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In case your wondering ...
thats $310,000 to $496,000
But you didn't say how big the box is, or how long it will last !
A drop in ye old bucket compared to just one weekend boondoggle for the big guys.
Just how many do you think they have a year.
And cars, and petty cash accounts, and housing allowance, and "client" lunches, and "client" golf, and, and , and ..................