You're in Good Hands - With the Government

Now it's the turn of America's life insurers to recieve "The Geithner Treatment:"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.The news will come as a relief to a number of iconic American companies that have suffered big losses made worse by generous promises to buyers of some investment products. Shares of life insurers have fallen more than 40% this year. Their troubles led to a string of rating-agency downgrades that, in a vicious cycle, made it more difficult for some insurers to raise funds.The life-insurance industry is an important piece of the U.S. financial system. Millions of Americans have entrusted their families' financial safety...(Read Full Post)