In the latest byproduct of the widening global financial crisis, Citigroup Inc. will acquire the banking operations of Wachovia Corp. in a deal facilitated by the government agency that insures the country’s bank deposits. Wachovia Insurance Services is not included …
Fortis, the Belgian-Dutch banking and insurance giant, faced a takeover or break-up as European Central Bank President Jean-Claude Trichet held emergency talks with Dutch and Belgian lawmakers to restore faith in the Belgian-Dutch financial group. Trichet, who as ECB [European …
Louisiana agriculture, forestry and fisheries suffered an estimated $950 million in losses and damages in this month’s hurricanes, according to the Louisiana State University AgCenter. And the figure, officials say, is expected to rise. Of the $950 million, up to …
President Bush said Sunday the $700 billion financial bailout being finalized by Congress would help protect the U.S. economy from a “system-wide breakdown” and expressed confidence it would be approved quickly. “This plan sends a strong signal to markets around …
The nitty-gritty of pricing and buying troubled assets under the proposed U.S. government bailout of Wall Street would be left up to the Treasury Department, under draft legislation released Sunday. In a key issue swirling around the $700 billion bailout …
U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations over the White House’s unprecedented bailout …
New York Governor David A. Paterson said that New York State will, beginning in January, regulate part of the credit default swap market which has to date been unregulated and has been a major contributor to the emerging financial crisis …
A combination of “class action contagion from the US and growing economic uncertainly have spurred an unprecedented surge in the demand for management liability insurance among the UK’s top firms,” according to a survey from Marsh. Marsh indicated that, “two …
U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress to act swiftly on a proposed financial system bailout and warned of dire consequences if they delay. In prepared testimony that the two are scheduled …
Whistleblower Retaliation “He was only looking out for the interest of his employees of the state treasurer’s office. … He refused to do something that was illegal.” —Kathleen Neary in Lancaster County District Court comments on a controversial case of …
