Word: fdic
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...Citibank will return $6,660 along with the principal. Next to a conventional five-year CD, which would pay $2,613, the stock-linked account looks like a skyscraper. Should the market dive, the bank's customer, unlike the stockholder, retains the full initial investment. He also has FDIC . insurance, which no broker can match. Great upside possibilities. No downside...
...recovers, its attitude about lending needs to swing back from hypercaution to moderation. This trend could be hastened if government would take another look at its banking regulations and find ways to relax the rules, and restore the risk-taking function of banks, without endangering the health of the FDIC. With interest rates so low, a batch of new loans would go a long way toward invigorating small and medium-size businesses, which are the nimblest sector of the economy and the most likely to provide new jobs in a hurry. Until that happens, no matter who gets elected President...
...certain of wringing all it can from Milken and his co-defendants, the FDIC demanded to know his net worth, together with that of some 150 of his former colleagues at the firm Drexel Burnham Lambert who agreed to contribute $300 million to the settlement. (The firm's insurers would put up an additional $100 million...
...with hearings resuming in Manhattan this week before U.S. Judge Milton Pollack, all sides have incentives to reach agreement. A settlement could strengthen Milken's plea for reduction of his 10-year sentence for securities fraud; he has already served a year. And the FDIC, which represents savings and loans that failed after loading up on junk bonds, stands to receive at least $500 million. The rest of the settlement would go to defrauded investors who participated in the suits...
Evidence from the FDIC could be used in aninvestigation of Walsh, Lane said...