|
||||||
 Niagara190
|
Seen at Insurance Journal: USG Insurance, national wholesaler and program manager headquartered in Canonsburg, Pa., has announced an insurance program for auto dealerships that are closing their doors. […] This program is underwritten by Lloyd’s of London and provides coverage for the lot of vehicles in liquidation/receivership. Typically the bank or financiers’ floor plan loan assets are [...]
Well, that’s one way to read a blurb that appeared in the Wall Street Journal: Net income of U.S. property-and-casualty insurers fell 96% last year amid surging investment losses. […] The profit for the companies, which include publicly held and mutual companies but exclude entities such as state funds like Florida’s Citizens Property Insurance Corp., would have [...] 
It’s a little encouraging to see that the impact of the financiapocalypse is attracting a bit more mainstream media attention. Seen at the USA Today opinion page: Preliminary damage estimates by the Congressional Budget Office aren’t pretty. Projected Social Security surpluses over the next decade have all but disappeared. Next year’s operating surplus, previously estimated at [...] 
Seen at Business Insurance: An independent board that sets U.S. accounting standards bowed to congressional pressure on Thursday and discussed ways to give banks more flexibility to determine the value of toxic assets that have forced billions of dollars in writedowns. The Financial Accounting Standards Board said its proposed changes to mark-to-market accounting would take effect [...]
A columnist at Bloomberg has apparently noticed that Social Security’s balance sheet has taken a troubling turn: Something extraordinarily important was revealed in mid- March and received almost no news coverage. If you typed in the words “Social Security” on Google’s news service last Friday, the top hit was a New York story about a man [...]
Yes, I’ve been quiet the past few days. I’m back from a bit of travel, and am now heading into a rather grueling stretch at work…so I am likely to be quieter than usual for the next few months. Anyway…. I’ve seen this op-ed at the New York Times mentioned in a few places (first via [...] 
Well, while I was otherwise occupied today, it looks like the idea of taxing the AIG retention bonuses the American public is so upset about grew a little. Quoting the Wall Street Journal: The House passed legislation Thursday that would significantly curb Wall Street bonuses this year, as lawmakers from both parties echoed popular outrage over big [...] 
If you want to read a little more than just the one or two lines that appeared on the newswires, you might want to check out this post in a Wall Street Journal blog which live-blogged the hearing yesterday. A word of warning – it’s long. If you do read the entire thing, and if you [...]
Has the world really gone this nuts? Quoting the Washington Post: A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death [...]
Even though I seem to be about the only person on the ’net who publicly doesn’t buy into the “bonuses are evil” meme…well even I think this idea, from Gary Peters (D-MI09) (via Kos), is a pretty creative way to do an end-run around AIG’s apparent contractual obligations to pay variable comp: Congressman Peters’ bill would [...] |
|||||
|
Website content © MikeTheActuary 1994-2010 |
||||||
