It has been well documented that Life Insurance Companies, which mostly made very bad securitization bets in recent years, desperately included Federal Bailout Funds or TARP money in their business models. See, for example, recent posts here on March 31, 2009 and April 10, 2009.
Now it is reported, in the wake of gathering restrictions on the use of Federal Bailout Funds from TARP, that one of the larger Life Insurance Companies, MetLife, has announced that it will not take TARP money. Mary Williams Walsh, "MetLife Says it Won't Seek Aid for Troubled Assets" p. B6, col. 5 (New York Times Nat'l Ed., "Business Day" Section, Tuesday, April 14, 2009).
MetLife Insurance Company is reportedly already satisfied with "a separate federal program, operated by the Federal Deposit Insurance Corporation, to raise about $397 million". Id.
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