Posted on 05/14/2009 7:52:41 PM PDT by Bokababe
The Treasury on Thursday granted preliminary approval for several of the nation's largest insurance companies to receive capital infusions under the government's Troubled Assets Relief Program, a Treasury spokesperson said. The recipients include Hartford, Prudential, Lincoln National, and Principal Financial Group, the official said.
(Excerpt) Read more at washingtonpost.com ...
Bailout? More like a coerced buyout. Hostile takeover. Government seizure.
These companies all go on to hemorrhage even more money faster.
The only difference is they are owned by the government and 0bama begins running them.
(Because of course Marxist street organizers are much savvier businessmen than MBAs.)
It is all about the hug.
What troubled assets do these firms own that would qualify under this abominable law?
Your assets are what troubles Obama. This is his excuse for taking more of yours and those of financially responsible smaller firms and giving it to a few large firms he can bully into financial losses. Everybody loses. He now uses power at will.
Time to go underground. The mafia has a higher business ethic than that of Obama.
How about the U.S. taxpayer?
.
We are the cash cows. They’ll never bail us out!
*sigh*
I don’t know about lately but they used to invest their funds in commercial real estate...
Accepting TARP money is no different from a spider saying to a moth - “Sure, just rest up a bit, sit right over there on my web.”
This is a nightmare.
He will own everything by the end of the first year...and the sychophant flock of sheep will “Baaaaa” in unison....
How quickly things change...why, just a year ago they were on the brink of drooling insanity for Bush “taking away all their rights and privacy blah blah blah” ...now they just “Baaaa” in unison as everything around them is taken over by the very government they were protesting...all while they fawn over the first ‘black’ president...These people needed a blank page to be their hero and their savior and be whoever they wanted him to be...I understand 1930’s Germany now...and I am sick, saddened, enraged...and locked, and loaded....
lol
Porkulus got the swine flu, and they need to quarantine it, so that it does not spread into the general population
What's that leftist dictum about "never wasting a crisis?"
CDS, probably the most troublesome of derivatives for reasons that are perfectly logical, and which would probably not be so troublesome if a) they were regulated as insurance products and b) they were used with prudence are, in fact (if not in name) insurance products. AIG was heavily involoved in them, I'd guess probably the major insurance companies at least dabbled.
Anyway, if not, even a reasonable amount of leverage would mess with any portfolio that's been down over 50% as the stock market has been at one point; plus they're undoubtedly taking a serious beating on their "conservative" real estate holdings.
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