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Bailout Spreading Beyond Banks

13 years ago

You can add Prudential, The Hartford, & MetLife to the growing list of financial (insurers) institutions requiring help from the TARP program. It seems obvious that the $700-$800B won't be adequate to squash the systemic risk to our economy caused by the housing debacle. Also in the article is a discussion of National City's failure.

Note in the article that annuities are only guaranteed up to $100K. Wow, I wonder how many senior citizens are relying on annuities? In the spring of '06, we had a maturing CD & since we're nearing retirement almost dropped $250K into an glad we decided it wasn't a good idea. We stayed in cash.

For good news, DH told me mortgage apps have been up a bit the past week. Surprised me. Could be a fluke...too soon to know.


Here is a link that might be useful: Rescue of Insurance Companies

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