Treasury Plans to Extend TARP to Life Insurers

The Wall Street Journal Online ^ | April 7, 2009 | Deborah Solomon

[GreatDaggar]

The Treasury Department plans to extend the Troubled Asset Relief Program to certain eligible life insurers, according to people familiar with the matter. Several life insurers have been burdened lately by capital constraints amid ailing markets.

The Treasury is expected to announce within the next several days the inclusion of life insurers that are bank holding companies or own a thrift, these people said.

How much money would be available to the insurers remains unclear. The Treasury says it has about $130 billion remaining in TARP funds. Life insurers that are bank holding companies have been eligible for TARP for some time, but the Treasury had not yet given the green-light to approve their applications.

Several have applied, including Prudential Financial Inc., Hartford Financial Services Group Inc. and Lincoln National Corp. No decisions have been made yet about which applications will be approved, these people said.

[freedumb2003]

Hey — extend TARP to me!

I will take 1/1,000,000 and I won’t make a peep, I promise! You can even fire me from my job for that!

[Nachum]

The List, ping

[FromLori]

TheStreet.com Ratings
Manulife, Allstate Units Vulnerable to Defaults

TheStreet.com Ratings
Manulife, Allstate Units Vulnerable to Defaults

This article has been corrected. Previously, it stated that a unit of Allianz held three times the amount of troubled mortgage-backed securities than it had in capital and reserves. The statement was based on information Allianz had provided to SNL Financial. Allianz has since corrected the data.

http://www.thestreet.com/story/10481580/1/allianz-allstate-units-vulnerable-to-defaults.html?puc=_breitbart&cm_ven=BREITBART&cm_cat=Free&cm_pla=Feed&cm_ite=Feed&puc=breitbart&;

[autumnraine]

Here Corpy corpy corpy

Come take the baaaiiittttt

[Lorianne]

Enough already!
We can’t bail out everyone.

Maybe people don’t want to buy insurance right now? What if people stop buying socks ... are we going to bailout the sock industry?

This is beyond beyond.