News

The Federal Reserve Board suffered paper losses of almost $9 billion, or 19 percent, in the first quarter of 2009 on risky securities it took over from American International Group last year, according to a new report.

Now that President Obama has abandoned his campaign promises, there is no telling what his final health care reform plan will look like, says NU Editor In Chief Sam Friedman in his blog today at www.NUSamSoapbox.com.

Officials of the Independent Insurance Agents and Brokers of America are voicing strong opposition to provisions of a Senate healthcare reform bill that would create a public plan in competition with private insurers.

Shareholders of IPC Holdings Ltd. have voted down a merger bid from Max Capital Group Ltd., and Max has decided to take its offer off the table rather than sweeten the deal.

One insurer announced it was rejecting funds from the government's Troubled Asset Relief Program, while another said it would accept them.

Treasury Secretary Timothy Geithner will outline the thinking behind the Obama administration's regulatory reform proposals Thursday in rare consecutive hearings before the Senate and House financial services committees.