Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Obama Wants to Distance Economic Plan, AIG Rescue
Mar 17 2009 // Barack Obama is scrambling to assure Americans he is keenly aware of public outrage over taxpayer-backed bonuses for AIG executives, lest his own economic plan get caught up in the outcry. “How do they justify this...
Ratings Recap: Everest Re, NIPPONKOA, Sompo, Evergreen Re, Endurance
Mar 17 2009 // Standard & Poor’s Ratings Services has lowered its counterparty credit ratings on Bermuda-based Everest Re Group Ltd. and its U.S.-based intermediary holding company, Everest Reinsurance Holdings Inc., to...
Timeline: AIG Developments Since U.S. Bailout
Mar 16 2009 // American International Group Inc., once the world’s largest insurer, nearly collapsed last September under losses from bad mortgage bets made by a financial products unit. The U.S. government has since stepped in...
Nebraska Bank Employee Wins Reversal on Medical Bias Ruling
Mar 16 2009 // A federal appeals court has reversed a lower court ruling against a former Beatrice bank worker who said he lost his job because of his rare voice disorder. The 8th U.S. Circuit Court of Appeals on Friday ruled in a case...
AIG’s European Bank Payments, Bonuses Spark Political Outrage
Mar 16 2009 // Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive...
AIG Bank Payments – Is the Media Missing the Point?
Mar 16 2009 // The Reuters article does basically explain that AIG made payments to Goldman Sachs and “foreign” banks, but it becomes a bit confusing as to why those payments were made. It also muddies the waters with a lot...
AIG Collapse Effect on Life Insurance Sector Overstated: Analysts
Mar 13 2009 // AIG’s recent claims that its collapse could threaten not just banking counterparties but also decimate the broader U.S. life insurance industry are alarming but also largely unproven. The contention was made in a...
U.S. Firms Seek Trade Credit Insurance to Protect Revenues
Mar 13 2009 // As the global economy remains in recession, a growing number of U.S. manufacturers and distributors are looking for effective ways to protect their revenue streams. In particular, firms marketing their goods and services...
Congress Gives U.S. Official 3 Weeks to Revise Mark-to-Market Accounting
Mar 13 2009 // Lawmakers told the top U.S. accounting rulemaker to deliver new guidance on mark-to-market accounting within three weeks, or face legislation changing the rule that has forced banks to write down billions of dollars in...
Beazley Group Adds U.S. Builders Risk, Engineered Risk Capabilities
Mar 13 2009 // Beazley Group plc, an insurer of construction and engineering risks in the Lloyd’s market, has established a builders risk and engineered risk capability in the United States. Builders risk, commonly known as...
Salmonella Recall Could Cost Peanut Producers $1 Billion
Mar 12 2009 // The effects of the widespread peanut butter recall could cost rural America’s peanut producers $1 billion in lost production and sales, according to testimony at a House subcommittee hearing. That could be just the...
Bernanke Says G20 Should Guide Regulatory Revamp
Mar 11 2009 // Federal Reserve Chairman Ben Bernanke Tuesday said leaders from the Group of 20 rich and developing economies should agree early next month on principles to guide nations as they revamp financial rules to prevent future...
Pennsylvania Court Scolds Firm Paying Advances on Settlements
Mar 11 2009 // A federal appeals court, ruling in a case linked to the 1985 MOVE bombing in Philadelphia, blasted a Texas company that offers lump-sum advances to plaintiffs who settle lawsuits. The settlement stemmed from a lawsuit...
Journalists, Bloggers Watching Libel Case Involving Staples’ E-mail
Mar 10 2009 // For decades, U.S. journalists have been guided by what most considered an absolute defense to libel lawsuits: If a news report is true, it can’t be libelous. But a recent decision by a federal appeals court in Boston...
EU Financial Supervision Plans May Be Replicated Globally
Mar 10 2009 // European Union plans to beef up financial supervision may be replicated globally, though much will hinge on how the United States responds, a top official from the bloc’s executive arm said on Monday. A high-level...
Mississippi’s Rep. Taylor Renews Push for Federal Wind Insurance Policy
Mar 10 2009 // Rep. Gene Taylor, D.-Miss., isn’t letting opposition by major insurance companies keep him from pushing his plan to make wind coverage for properties available through the federal flood insurance...
A More Diverse Nation
Mar 9 2009 // The U.S. Census Bureau reported that by mid-century, the nation will be far more racially and ethnically diverse than it is today. Minorities currently represent about one-third of the U.S. population and are expected to...
Who Got AIG Bailout Funds? Partial List of Firms Published
Mar 9 2009 // Where, oh where, did AIG’s bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published. The Wall Street...
How AIG Fell Through the Regulatory Cracks
Mar 9 2009 // U.S. lawmakers blasted state and federal regulators for dodging blame and keeping secrets after the failure of insurance giant American International Group Inc., which now has access to more than $170 billion in taxpayer...
Business Moves
Mar 9 2009 // Marsh Marsh & McLennan Companies Inc., the No. 2 global insurance broker, said the 2008 restructuring at Marsh Inc., its flagship insurance brokerage unit, was on track to generate annual savings of $200 million, and...
