Wednesday, May 20, 2009
Allstate tells Treasury 'thanks, but no thanks' on TARP cash
This is the kind of ingrate a taxpayer should appreciate: Insurance giant Allstate Corp. today turned down the Treasury's offer of TARP capital.
Just last week, after months of industry lobbying, the government approved six major life insurance companies for capital infusions under the Troubled Asset Relief Program.
But one of the six -- Ameriprise Financial Inc. -- quickly said it no longer was interested. Another, Prudential Financial Inc., sounded noncommittal in a statement Friday, saying only that it was "evaluating all options."
Now, Allstate says it doesn’t want the money...
LA Times: Allstate tells Treasury 'thanks, but no thanks' on TARP cash
Just last week, after months of industry lobbying, the government approved six major life insurance companies for capital infusions under the Troubled Asset Relief Program.
But one of the six -- Ameriprise Financial Inc. -- quickly said it no longer was interested. Another, Prudential Financial Inc., sounded noncommittal in a statement Friday, saying only that it was "evaluating all options."
Now, Allstate says it doesn’t want the money...
LA Times: Allstate tells Treasury 'thanks, but no thanks' on TARP cash
Permalink posted by markw @ 5:23 AM 
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