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Will Anyone Investigate Insider Trading In The Insurance Stocks?

By Ilene
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By Joe Weisenthal at ClusterStock

Will Anyone Investigate Insider Trading In The Insurance Stocks? (PRU, HIG)

Excerpt:  Yesterday evening we mentioned the rally big insurers like Hartford (HIG) and Prudential (PRU).

Then just a few hours later, news reports confirmed that the insurance companies would be eligible for TARP. It was basically known that the Treasury would accept them, but the timing of the announcement was a mystery.

Given that our government’s been leaking like sieve lately (see: the stress-test runup), it’s impossible to believe that the news hadn’t been leaking during the day…

David Goldman offers the following insight:

First the Obama administration pulls the rug out from under the insurance industry by playing politics with credit seniority in the Chrysler bankruptcy, adding to the uncertainty of valuing trillions of dollars of corporate and commercial real estate debt. It then offers a bailout to the investors.

Full article here.

 

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