Critics are questioning the lavish parties and concerts because Northern Trust took over $1.5 billion in government bailout money.

The celebrity news Web site TMZ.com reports that in addition to the millions it pays to sponsor the tournament, the Northern Trust spent lavish amounts on parties and concerts surrounding the event.

TMZ reports hundreds of clients and employees were flown to Los Angeles and put up at some of the fanciest hotels, then wined and dined for several days with concerts by such high-priced talent as Sheryl Crow, Earth Wind & Fire and the band, Chicago.

A spokesman for Northern Trust tells Newsradio 780 the company never requested bailout money, that it agreed to accept it only at the government’s request. The spokesman also says Northern Trust entered into its 5-year contract to sponsor the tournament a full year before there was any bank bailout plan. He says the event is an important marketing tool to attract new clients.

President Obama unveiled his $275 billion plan to provide mortgage relief to homeowners yesterday, but there are still many details to be announced. The full plan - called the Homeowner Affordability and Stability Plan - will be released on March 4th, but until then, homeowners who think they might benefit should examine their own finances and situation to make sure they meet the eligibility guidelines.The Treasury Department’s fact sheet is a good place to start .

The two main thrusts of the program are to help homeowners modify mortgages that they cannot presently keep on top of, and to help those who are unable to refinance.