Treasury Agrees To Aid Insurers

[NikolaC]

Source: Washingtonpost.com

Treasury Agrees To Aid Insurers
Six Firms Gain Access to Funds

By David S. Hilzenrath and David Cho
Washington Post Staff Writers
Friday, May 15, 2009

The Treasury yesterday granted preliminary approval for some of the nation's largest insurance companies to receive capital infusions under the government's Troubled Assets Relief Program, Treasury spokesman Andrew Williams said.

Recipients are Hartford, Prudential, Allstate, Ameriprise, Lincoln National and Principal Financial Group, he said. The insurers notified yesterday are among hundreds of financial institutions in the pipeline "that are being reviewed and funded as appropriate on a rolling basis," Williams said.

The money could shore up the life insurance industry, which plays a major role in the economy and has been weakened by the financial crisis. In addition to paying death benefits, life insurers deliver retirement income in the form of annuities. They are big investors in corporate bonds and commercial real estate.

However, the erosion of their investments -- and the possibility of further declines in the value of stocks, bonds and mortgages -- raised concern in some quarters about the outlook for the industry.



Read more: http://www.washingtonpost.com/wp-dyn/content/article/2009/05/14/AR2009051403866.html?hpid=topnews

[ixion]

1. what a whopping load of crap

The entire F.I.R.E industry, the idiots who caused this mess, are now being rewarded handsomely for the incompetence.

:wtf: :grr:

[Triana]

14. And the people THEY HURT most with their assinine gambling and ponzi schemes..

...get jack squat.

[Autumn]

2. When is this shit ever going

to stop?:puke:

[bertman]

10. When they have ALL of the money and ALL of the property.

[Bonobo]

3. @!%$$@%^##^!!!

:mad: :mad: :mad: :mad: :mad: :mad:

:banghead: :banghead: :banghead: :banghead: :banghead:


:grr: :grr: :grr: :grr: :grr:


:nuke: :nuke: :nuke: :nuke: :nuke:

[bkkyosemite]

4. blackmail

[CHIMO]

5. Bad Money

The old Empire.

[DJ13]

6. Screw the pony

I think its time we get some of the easy money the administration is handing out like candy.

Cant fix Main street by giving money to Wall street.

[Demeter]

7. A "Financial Advisor" Tried to Sell Me An Annuity

But she couldn't explain how they were going to pay those rates which were impossible under the Greenspan interest rate policy and the stock market gyrations. No Sale, thank the goddess!

[w4rma]

8. Obama's economic team is a disaster. (nt)

[neverforget]

9. Where do I line up for the cash?

[Autumn]

12. No cash for you!!

Unless you have helped screw up the economy, then probably you can have some.

[debbierlus]

11. Kick. Can we stop pretending now that we are getting any type of real change?

How many more months of this shit do we have to take before we get angry?

[Grinchie]

17. I stopped pretending when he Backed away from Fisa and prosecution of Bush

The trouble though, is that I really think he would like to stand up for these things, but the current load of DLC hangers on-ers have got him by the balls. Not to mention that fact that the Corporations are probably blackmailing the government after all the help they gave it for the last criminal cabal.

Never mind the fact that the Fedreal Reserve Cancers seems to have as firm a grip now as ever before.

[Triana]

13. ROBBERY! Taking OUR money - the public's money - and giving it to private

corporations. TONS of it.

CORPRAT WELFARE, ROBBERY of the PUBLIC!

[dhpgetsit]

15. OMFG!

We have the get the damn corporations out of Washington!

[Grinchie]

16. Another Shit Sandwich Sir? There's plenty you know.

I'm wondering when the current manufactured batches of 8 year old shit sandwiches is going to run out. Our industrial capacity is way down, I have no idea how they can keep it up the way they are.

I'll pass on this diet until they come up with a new product.

I guess these Insurance firms don't know what a "Reserve Fund" or "Equity" is, so they just speculate on any hair brained vehicle they can dig up. It's not like they paid off on their obligations to Katrina Victims yet.

[Javaman]

18. Fuck the people. nt

[mule_train]

19. un-be-lievable

every bonus paid to insurance execs - theft