WASHINGTON–Insurers will not be allowed to participate in the federal government's bailout program for financial institutions, a top Treasury official said today.
Only federally regulated financial institutions will be eligible for the various aid programs, according to the official, who cannot be identified by name due to ground rules established by the agency. However, insurers would be allowed to sell troubled assets as part of another program.
The comments were made at a background briefing for media after Treasury Secretary Tim Geithner unveiled the Obama administration's financial stability plan.
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