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Insurance industry joins banks on the hot seat

IHT - Months after the stocks of big Wall Street financial firms first came under attack, insurance companies are now being battered, suggesting that a similar round of consolidation and recapitalization may be in store for that industry. Insurance stocks have plunged more than 30 percent in the last five days, with Prudential Financial the big loser on Thursday. Its stock fell $10.02, to $33.27 a share, and it is now 42 percent lower than a week ago.

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Fiscal policy is our most potent instrument

Financial Times - Fiscal policy, more than monetary policy, will determine how and when this crisis will be resolved. The best contribution central banks could make is to help the money markets. I still believe some explicit currency-zone level money market insurance scheme is the way to go. By all means, cut [...]

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Nationalisation threat to banks

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Banks to Continue Paying Dividends

Washington Post - U.S. banks getting more than $163 billion from the Treasury Department for new lending are on pace to pay more than half of that sum to their shareholders, with government permission, over the next three years.

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