When Humana, one of the biggest private insurers offering richer Medicare plans to the elderly, sent out a letter warning senior citizens that a government revamp of health insurance could eliminate their benefits, the government told the insurer to keep its mouth shut—or face an enforcement action.
That set off an explosive fight in Congress with charges the White House is effectively ... read more
Meredith Whitney, Wall Street's top bank analyst, weighs in this morning with a warning shot at the bullish mania taking hold on Wall Street.
Her message: Keep your powder dry and your wits about you. We may be in for a downturn because consumers and small businesses are suffering from a lack of credit.
"We continue to worry about the 'unintended consequences' of restrained liquidity to the ... read more
Citigroup chief executive Vikram Pandit, racing to rightsize the troubled bank, gave fresh details about Citi’s opaque balance sheet at an investor conference at Barclays' Capital Global Financial Services Conference.
The presentation came amidst news that Citi may be moving to try to pay back the $45 bn in TARP funds it received. Pandit says the “goal is to repay” the US government ... read more
On this same day a year ago, Rep. Barney Frank, the Democratic congressman from Massachusetts, jokingly proposed declaring Monday, September 15th, 2008 to be Free Market Day.
It was that Monday that the government let Lehman Bros. collapse into bankruptcy. Beginning on Sept. 16 and thereafter, the US government turned the US banking sector into essentially a state-protected industry.
”The ... read more
(An annual 9/11 message from EMac)
Ok, those who know me understand I detest all things self-referential.
My family gets an allergic skin reaction from any such behavior, including those who take themselves seriously. Treacly emotion, not for us. Even a Hallmark card puts us in a diabetic coma.
But I can't help it, not today.
Like too many other towns in the New York area, the 9/11 ... read more
Elizabeth MacDonald is the stocks editor for Fox Business Network. She is recognized as one of the top prize-winning business journalists in the country, and has received 14 awards, including the top prize in business journalism, the Gerald Loeb Award for Distinguished Business Journalism, and the Newswomen's Club of New York Front Page Award for Excellence in Investigative Journalism.
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September 24, 2009 10:39 AM EDT
Behind the Scenes in the Humana-Baucus Fight
When Humana, one of the biggest private insurers offering richer Medicare plans to the elderly, sent out a letter warning senior citizens that a government revamp of health insurance could eliminate their benefits, the government told the insurer to keep its mouth shut—or face an enforcement action. That set off an explosive fight in Congress with charges the White House is effectively ... read more
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