The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Travis_Bickle	5/15/2009 4:31:23 PM
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Ameriprise Financial, one of six life insurers offered federal bailout funds yesterday, said today that it is turning down the money. "While we appreciate Treasury's approval of our application, we have elected not to accept funding," Jim Cracchiolo, chairman and chief executive, said in a statement. "We have carefully evaluated our current position and expectations for the future, and we are confident that our current capital position and access to potential additional funding sources are more than adequate." Prudential, which also was granted preliminary approval for an infusion of taxpayer capital, signaled that it hasn't decided whether to accept the aid. The company said it is "evaluating all options." The less-than-effusive response of some insurers to the offer of federal support shows how, for prospective recipients, bailouts have become a mixed blessing. The government money would come with conditions, including potential restraints on executive pay. Depending on the form it took, it could dilute the value of current investors' shares. And taking the money can create the troublesome perception that a company needs it. washingtonpost.com

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