LINCOLN FINANCIAL
Honest Abe they ain’t...
Sightings from The Catbird Seat
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From their website:
ABOUT LINCOLN FINANCIAL GROUP
Lincoln Financial Group is a diversified financial services organization headquartered in the Philadelphia region.
With $178 billion in assets under management as of December 31, 2008, Lincoln Financial Group has been serving the financial needs of customers across the U.S and the United Kingdom since 1905.
Our goal is to provide comprehensive financial solutions that help our customers secure their retirement and manage life transitions. For financial professionals, Lincoln Financial is their partner of choice, offering innovative, industry-leading products and educational resources to help them build their book of business.
April 8, 2009
Treasury says some insurers
qualify for TARP
By David Lawder
WASHINGTON (Reuters) – The U.S. Treasury said on Wednesday some life insurers have met requirements for government capital investments under an existing rescue plan, and their applications for funds are now being considered.
"There are a number of life insurers that have met requirements for the Capital Purchase Program because of their bank holding company status," said Treasury spokesman Andrew Williams. "These are among the hundreds of financial institutions in the CPP pipeline that will be reviewed and funded as appropriate on a rolling basis."
The statement was made in response to a Wall Street Journal story published late on Tuesday saying the Treasury would extend its $700 billion financial bailout program to certain life insurers and would make an announcement in coming days.
Williams said any capital investments in insurers that have bank holding company status would not constitute a new rescue program for the insurance sector.
The Treasury clarification caused stocks to pare gains, particularly the major insurers who were viewed as the likely benefactors of a widening of the Treasury's financial bailouts. Prudential Financial Inc shares had climbed more than 12 percent at one point in early trade, but by mid-morning were up 6.3 percent at $23.50, while MetLife's earlier 10 percent gain was chopped back to about 3.4 percent at $24.98.
In recent months, some insurance companies have received approval to acquire banks, paving the way for them to participate in the Capital Purchase Program, which the Treasury has estimated will top out at $218 billion.
As of Tuesday, the program had $198.5 billion invested, leaving $19.5 billion in available funds, according to Treasury documents. A Treasury official said only a small number of life insurers have met the qualifications for the program.
Reuters reported in February that the Treasury was actively considering applications for capital injections from about a dozen insurance companies.
In addition to Met Life and Prudential, other insurers that now have bank holding company status include the Hartford Financial Services Group Inc and Lincoln Financial....
http://news.yahoo.com/s/nm/20090408/bs_nm/us_financial_bailout_insurers
March 30, 2009
Lincoln Financial Group Enters Into Reinsurance Agreement With Commonwealth Annuity and Life Insurance Company
PHILADELPHIA, March 30 /PRNewswire-FirstCall/ -- Lincoln Financial Group (NYSE: LNC) today announced that it has entered into a reinsurance agreement with Commonwealth Annuity and Life Insurance Company on an in-force block of universal life (UL) and variable universal life (VUL) insurance policies written by The Lincoln National Life Insurance Company and its predecessors.
Commonwealth Annuity is a wholly owned subsidiary of The Goldman Sachs Group, Inc. The transaction will be effective as of March 31, 2009.
WANT TO SPOT SOME OF THE BILLIONAIRES GETTING BAILED OUT OF LINCOLN FINANCIAL WITH U.S. TAXPAYERS’ DOLLARS???
http://finance.yahoo.com/q/mh?s=LNC
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AND, YOU MAY WANT TO CHECK OUT SOME OF THESE GIGANTIC, TAX-DODGING, INTERNATIONAL VULTURE NESTS ON THE LIST ALSO GETTING BAILED OUT WITH YOUR TAX DOLLARS...
Barclay’s Global Investors, UK
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For more, GO TO > > > Nests of the Insurance Vampires
April 16, 2006
Lincoln Financial Advisors
Stockbroker Fraud
By Debra Speyer
Category: Fraud in the News
A Lincoln Financial Advisors Broker was charged with stealing $2.25 million in a Ponzi scheme. Surprisingly Lincoln allowed this broker Richard Daniels who had previously been banned by the securities industry to manage investor's monies. More surprising, the SEC who had banned him from the industry for defrauding investors in the sale of phony promissory notes gave him back his license.
This is a very unusual situation. You do not normally see the SEC handing back licenses or the NASD approving reinstatement for this type of history. Investors who want to learn about a potential stockbroker can do so by going to the NASD website where information about past arbitrations, disciplinary background and employment history can be located.
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MORE TO COME
For more vulture poop now, GO TO
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AIG: The American Idol of Greed!
Allied World Assurance: 9-11 Axis of Evil
AXA: Behind the Darkened Blinds
Citigroup: Vampires in the City
Confessions of a Whistleblower
Dirty Money, Dirty Politics & Bishop Estate
Nests of the Insurance Vampires
Prudential: A Nest on Shaky Ground
P-s-s-t. Wanna buy a good audit?
The Kamehameha Schools’ Prudential Retirement Plan
The Silence of the Whistleblowers
Harmon’s Letter to the New Trustees
Harmon’s Letters to Hamilton McCubbin
The Morgan, Lewis & Bockius Report
The Vultures in WCI Communities
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Originally posted April 8, 2009
Last Updated April 9, 2009, by The Catbird
CHRONOLOGY
March 13, 2007: The U.S. Dept of Justice obtains Order from Judge David A. Ezra to shut down The Catbird Seat website.
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