WASHINGTON - The US Treasury yesterday said life insurers are eligible for capital infusions under the federal rescue program, and applications are under review....
The bailout for the financial sector, originally designed to buy soured loans and securities from banks, has since become a tool for the Treasury to bolster firms including credit card companies and automakers....
North American insurers have accumulated more than $190 billion in losses and write-downs tied to the collapse of the US mortgage market since the beginning of 2007. Corporate debt defaults are poised for a significant increase this year and may end up costing life insurers more than losses on securities linked to subprime, Alt-A, and commercial mortgages, according to a research report by Barclays PLC analyst Eric Berg.
US life insurers, which hold about $1 trillion in corporate debt, need Treasury aid to buy more bank bonds and help inject liquidity into the credit markets, the American Council of Life Insurers has said....
CHARLOTTE, N.C. - Bank of America Corp., the largest US bank, needs to raise $36.6 billion.... Bank of America has already accepted two rounds of taxpayer support totaling $163 billion....
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I don't want one more damn dime going to those looters!!!
