by John Darer CLU ChFC CSSC RSP
Bloomberg reported the sensational headlines " Wall Steet Bailout Returns 8.2% Beating Treasury Bonds" . The report says the return on the bailout can fund the Securities Exchange Commission for the next two decades.
The New York Post headline was "US beats Street"
Have the clouds of pessimism indeed begun to dissipate?
Has any one seen Timothy Geithner & Co "cutting the rug" to THIS disco hit from the tail end of the 1980-82 recession?
Lest we forget only 15-24 months ago a life insurance company that took the TARP money was seen by some as a "scarlet letter" of sorts.
In his report of the January 2009 NSSTA Winter meeting S2KM and TSSG's Patrick Hindert reported:
Congressman "Kendrick B. Meek, a Democrat representing Florida's 17th district, addressed economic challenges facing President Obama and Congress. TARP has not served the purpose Congress intended according to Congressman Meek".
2 years ago, some news reporters were laser focused on hot stone treatments at spa in California to churn the outrage, inspiring flared-notrilled Mr Potato Head-eared politicians to snarl like hungry lions on prime time C-Span. On October 20, 2010 AIG was listed at the pinnacle of the Top 4 TARP returns, 23% on the government's $47.5B bailout loan.
Thankfully, things seemd to have turned around for insurance, perhaps not all the way, but getting there.
On October 21, 2010 a structured annuity market that had previously withdrawn from the market has re-entered the fray.