Sounds like the smaller banks may have to wait a bit longer to see any help from Geithner's Treasury. This is an exclusive club restricted to the biggest of the big only. Small companies need not apply and for individuals? Don't kid yourself. Keep your whinging to yourself and forget about your own personal financial worries because those who profited the most in recent years are at the front of the line to profit even more even though they led the way into this recession. Surely you don't think it's fair to ask them to trim their lifestyle, do you? You selfish, greedy bastards. Shame on you! Think about the needs of our corporate leaders who are suffering out there. It's all about them, again.
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.Ah, the impending commercial real estate collapse. Get ready to bail out yet another screw up by banksters. Isn't Republican capitalism great? It's even better when Democrats (or whatever Geithner is) join the party. How did these people pervert our economic system like this? We have yet another round of privatized profits and socialized losses about to strike.
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.
