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LIFE INSURANCE AND ANNUITIES SEP 22, 2008
AIG's cash crisis stokes fear among advisers

Financial advisers could soon find themselves paying more for AIG's variable annuities.

RIA NEWS SEP 22, 2008
Advisers reach out to clients amid market maelstrom

Last week's implosion on Wall Street has given financial advisers and their clients a jolt of unprecedented proportions.

RIA NEWS SEP 22, 2008
Thain blasts ratings agencies, short-sellers for leveling Wall Street

Defending his decision to drive Merrill Lynch & Co. Inc. into the arms of Bank of America Corp. in less than 48 hours of negotiations, Merrill chief executive John Thain told the firm's 16,000 brokers last Monday that he had saved their jobs.

MUTUAL FUNDS SEP 19, 2008
Treasury to protect money market funds

The Department of the Treasury announced today that for the next year, it will insure the holdings of any publicly offered eligible money market mutual fund that pays a fee to participate in the program.

MUTUAL FUNDS SEP 19, 2008
Legg pumps $630M into money market funds

Legg Mason Inc. has entered into agreements to support three money market funds: Citi Institutional Cash Reserves, Western Asset Institutional Money Market Fund and a fund for offshore investors, CILF U.S. Dollar Liquidity Fund.

FIXED INCOME SEP 19, 2008
Treasury: Firms to roll out covered bonds

“This is a tough environment to launch a new financial product,” said Neel Kashkari, assistant secretary of the Department of the Treasury, but “never has the market needed this financial product as much as we need it now.”

ETFS SEP 19, 2008
ProShares, Rydex suspend sale of ETFs

The move followed the emergency action announced yesterday by the Securities and Exchange Commission temporarily prohibiting short sales of shares of certain financial companies.

MUTUAL FUNDS SEP 19, 2008
Reserve Management freezes funds

The Reserve Management Co. Inc. won’t accept new investors in any of its group of money market funds, the firm said yesterday.

RIA NEWS SEP 19, 2008
Paulson unveils massive plan to buy bad debt

Adding to sweeping government actions announced to alleviate the financial crisis, Treasury Secretary Henry Paulson Jr. this morning proposed new measures aimed at buying bad mortgages and distressed debt.

MUTUAL FUNDS SEP 19, 2008
Bold government rescue steps buoy markets

U.S. markets are poised to open sharply higher this morning after top government officials from the administration and Congress announced a several actions last night intended fight the mounting financial crisis, according to published reports.