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REGULATION AND LEGISLATION JUL 25, 2008
Omnibus housing legislation poised for vote

The Senate voted 80-13 to limit debate on the bill that would aid ailing mortgage giants and help struggling mortgage holders.

By Bloomberg
LIFE INSURANCE AND ANNUITIES JUL 25, 2008
Long term care issues addressed at hearing

Consumer protections and state partnership arrangements with insurance companies were among the topics.

By Bloomberg
LIFE INSURANCE AND ANNUITIES JUL 25, 2008
United Healthcare hit with hefty fine

The insurance company will pay $786,655.87 as part of a settlement with the North Carolina insurance department.

By Bloomberg
INDUSTRY NEWS JUL 25, 2008
Surprisingly good news for durable goods

New orders for manufactured durable goods were up 0.8% in June for a total of $215.4 billion.

By Bloomberg
INDUSTRY NEWS JUL 25, 2008
Legg Mason, T. Rowe Price

Legg Mason today reported a loss of $31.3 million, or 22 cents a share, for the second quarter.

By Bloomberg
REGULATION AND LEGISLATION JUL 25, 2008
Finra to try revamped arbitration panels

The pilot program will allow about 400 arbitration claimants to select a panel without an industry representative.

By Bloomberg
REGULATION AND LEGISLATION JUL 24, 2008
Congress passes sweeping housing bill

The bill would provide $300 billion in funding to troubled homeowners and aid the ailing Fannie Mae and Freddie Mac.

By Bloomberg
INDUSTRY NEWS JUL 24, 2008
Beige book paints dark economic picture

Economic activity has slowed in the past month, with Americans buying fewer goods in all categories.

By Bloomberg
INDUSTRY NEWS JUL 24, 2008
Texas files action against UBS

UBS could be parially suspended from operating until those who purchased ARS from the firm are reimbursed.

By Bloomberg
LIFE INSURANCE AND ANNUITIES JUL 24, 2008
Insurer fined $20M for lax practices

HealthMarkets Inc. faces up to $10 million in additional penalties if it doesn’t meet disclosure and oversight standards.

By Bloomberg
INDUSTRY NEWS JUL 23, 2008
WaMu, E*Trade, AMG and Raymond James

E*Trade Financial reported a second-quarter earnings loss of $94.6 million compared to a net income gain of $159.1 million a year ago.

By Bloomberg
LIFE INSURANCE AND ANNUITIES JUL 23, 2008
NYLI launches five-year fixed annuity

The Select 5 fixed-interest annuity is a single-premium product that is guaranteed for five years.

By Bloomberg
INDUSTRY NEWS JUL 23, 2008
Report: Cuomo set to charge UBS with fraud

This could be the first of several cases arising from an investigation into the auction rate securities market.

By Bloomberg
INDUSTRY NEWS JUL 22, 2008
Paulson: More economic bumps lie ahead

There will be conintued stresses "until the housing market stabilizes further," said Treasury secretary Henry Paulson.

By Bloomberg
INDUSTRY NEWS JUL 22, 2008
Wachovia, Fifth Third, CME

Wachovia reported a second-quarter loss of $8.9 billion, or $4.20 per share, while slashing its dividend by 87%.

By Bloomberg
BROKER DEALERS JUL 21, 2008
Bank on more B-D acquisitions, industry observers contend

In the wake of moves this month by Ladenburg Thalmann Financial Services Inc. and First Allied Securities Inc. to acquire broker-dealers, more deals for independent-contractor firms are on the horizon, according to industry observers.

By Bloomberg
OPINION JUL 21, 2008
SEC's rumor probe will lead nowhere

After weeks of slumbering on the sidelines, Christopher Cox and the Securities and Exchange Commission have become engaged in the financial crisis that has swept the markets.

By MFXFeeder
INDUSTRY NEWS JUL 21, 2008
Infrastructure is real estate's latest hot spot

A growing number of investors are looking beyond conventional office buildings and shopping malls, and parking their cash in the infrastructure that surrounds them — in particular, toll roads, bridges, electrical transmission lines, communication lines and pipelines.

By Bloomberg
INDUSTRY NEWS JUL 21, 2008
Gloomy outlook for economic indicators

An index of leading indicators, which gauges the economic outlook for the next three to six months, fell 0.1% in June.

By Bloomberg
INDUSTRY NEWS JUL 21, 2008
BofA profits plunge but beat Street

The Charlotte, N.C.-based bank booked second-quarter net income of $3.41 billion compared to $5.76 billion in the year-ago period.

By Bloomberg