Insurers Rip Off Families of Fallen US Soldiers

Life insurers, a key cog in capital markets, seek TARP funds

(NEWSER) - Life insurance companies, an oft-overlooked yet important cog in the financial infrastructure, haven’t been immune to tumbling markets, the Wall Street Journal reports, which are eroding both their portfolios and consumer confidence. A Dow Jones life insurance index is off 59% this year and 82% from its 2007 high, leading a dozen insurers to apply to the Treasury for bailout funds. More»

(NEWSER) - Now that the banks' stress tests are done, it's on to the insurance industry. The Treasury Department said today it will give TARP funds to the nation's biggest life insurers, the Washington Post reports. Hartford Financial has been given preliminary approval to receive $3.4 billion, and as-yet unspecified amounts will go to Prudential, Allstate, Ameriprise, Lincoln National, and Principal Financial Group. More»

Goldman report sends life insurance down

(NEWSER) - Stocks declined today as poor earnings reports made investors bearish, the Wall Street Journal reports. Although news of the Fannie/Freddie plan to speed refinancing efforts for distressed homeowners checked midday losses, the Dow dropped 176.58 to close at 8,693.96. The Nasdaq dropped 35.84, settling at 1,580.90, and the S&P 500 fell 20.26 to close at 898.95. More»

$500,000 windfalls for next of kin can cause confusion, discord

(NEWSER) - The military pays $500,000 to the next of kin of every soldier killed in Iraq or Afghanistan, but the sudden injection of cash during a time of grief often throws survivors off balance. Young military spouses can struggle with money management and long-lost friends and relatives sometimes appear asking for handouts. Some military kin have quickly ended up destitute. More»

Citigroup, SunTrust among those that failed

(NEWSER) - The Federal Reserve released the results of its latest round of stress tests at the nation's biggest banks, and they're generally being received as good news. Fifteen of the 19 banks passed, which is what outlets such as the Wall Street Journal and Washington Post are highlighting in the the first paragraph. But the AP and Bloomberg opt to focus on the four that failed, and each singles out Citigroup in the opening paragraph. (The three other banks that failed to impress were SunTrust, MetLife, and Ally Financial.) More»