Northern Trust feels a little blind sided by the controversy over its decision to fly hundreds of employees and clients to the golf tournament it sponsors in Los Angeles. Rep. Barney Frank, the chairman of the House Financial Services Committee, sent the CEO a letter "demanding that Northern Trust immediately reimburse the government for the cost of the golf tournament and entertainment," according to the New York Times. 

The bank responded by agreeing to pay back all TARP funds as soon as it could under the new bailout rules. How quickly the reimbursement will be paid is unclear. The bank also argued that the junket was within the terms of the capital injection. It strikes many as blunder nonetheless. 

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