Just 10 days before his arrest, Bernard Madoff received $250 million from a financial backer in an apparent bid to prevent the collapse of his firm.
President-elect Barack Obama intends to retain FDIC Chairman Sheila C. Bair in her post, Democratic Party officials told The Wall Street Journal.
Pennsylvania’s insurance commissioner yesterday seized control of Penn Treaty Network America Insurance Co., a foundering long term care insurer, because it’s having difficulty maintaining appropriate capital levels.
The U.S. equity market is likely to see a double-digit gain this year, while the economy shrinks by 2%, said .Robert C. Doll, vice chairman and chief equity investment officer of New York-based BlackRock Inc.
Cigna anticipates that most of the layoffs will be completed by the middle of this year and that all of the affected employees will be eligible for severance benefits and outplacement support.
The latest data, released today by the National Association of Realtors in Washington, shows the Pending Home Sales Index, which tracks contracts signed, fell to its lowest level since the trade group began tracking the stats in 2001.
Your client wants to know whether she can contribute after Dec. 31, 2008, to a SEP-IRA set up in that year, but to which no contributions were made in 2008, in order to reduce her modified adjusted gross income.
Clients of Raymond James Financial Inc. who are stuck holding $1 billion of auction rate securities will have to hang onto the paper for months to come, even though several large firms have announced buybacks.
