Wednesday, April 8, 2009

Redefining TARP. Again.

The Wall Street Journal is reporting that Treasury plans to give TARP bailout money to some struggling life insurance companies.
The Treasury Department has decided to extend bailout funds to a number of struggling life-insurance companies, helping an industry that is a linchpin of the U.S. financial system, people familiar with the matter said.

The department is expected to announce the expansion of the Troubled Asset Relief Program to aid the ailing industry within the next several days, these people said.
Only insurers that own federally chartered banks will qualify for the program.
Well, that makes me feel a lot better. Not. Ron Humenny, founder and President of Starfire Investment Advisors asks the dreaded question: Will TARP soon be an acronym for 'Those Annuities R Problems'?

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