Friday, May 15, 2009

Federal Regulation of Insurance?

At a hearing of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, US lawmakers discussed what kind of role the federal government should have in regulating the insurance industry. "The events of the last year have demonstrated that insurance is an important part of our financial markets," said Rep. Paul E. Kanjorski, D-Pa., chairman of the subcommittee. "The federal government, therefore, should have a role in regulating the industry." [Source: InvestmentNews]

Monday, May 11, 2009

Wells Fargo Freezes Pensions

From their most recent 10Q

On April 28, 2009, the Board of Directors approved amendments to freeze the Wells Fargo
qualified and supplemental Cash Balance Plans and the Wachovia Pension Plan.