Saturday, November 15, 2008

Insurers Get Into Bailout Line

They'll do it by buying a bank.

Four insurance companies on Friday asked the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program.

Hartford Financial Services Group Inc., Genworth Financial Inc., Lincoln National Corp. and Aegon NV, a Dutch company that owns U.S. insurer Transamerica, each asked the Office of Thrift Supervision for permission to acquire an existing savings and loan

Next: newspapers? Nope.

It will be States and municipalities. And it will be big, big dollars.

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