Any bank on the receiving end of TARP funds has to be very sensitive to the PR implications of marketing spending. Lavish junkets and the like are a major no-no now. When it comes to golf, there's a fine line. A golf tournament sponsorship is a legitimate marketing activity, but you have to be careful that it's not seen as a way to spend lavishly on executives and their pals--all enabled by TARP funds.

The New York Times notes that Nothern Trust has been pilloried by politicians for its golf tournament spending. Wells Fargo and Morgan Stanley reportedly will maintain their fairly long-standing golf sponsorships but will scale back to make it look like less of a good time, free-spending junket, which is smart. 

For more:
- here's the article

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