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...been Fred Goodwin's turn. The former boss of the stricken Royal Bank of Scotland is rumored to be mulling a move to South Africa after vandals smashed windows and his car at his Edinburgh home. Britons are livid that Goodwin was awarded a $1 million annual pension after he quit RBS in disgrace last year. The 50-year-old oversaw a disastrous expansion that almost felled one of Europe's largest banks, prompted a $30 billion government bailout last fall and triggered the biggest annual loss in U.K. corporate history. "We are angry," a group claiming responsibility...

Author: /time Magazine | Title: Hang the Bankers! Getting Ready to Vent in London | 3/28/2009 | See Source »

Right now, says Leuthold, institutional investors are moving back into stocks, not because they're confident of a recovery, but because they're loathe to miss an important market move. "The pension funds are way below their actuarial assumptions, and they're afraid they'll be left behind if they sit with too much cash," he says. In other words, performance fears could replace recession fears...

Author: /time Magazine | Title: Has the Stock Market's Rally Run Its Course? | 3/27/2009 | See Source »

...unlocks the markets," says Frank Partnoy, a law professor at the University of San Diego. In 1975, the SEC, in an effort to better define who was a legitimate rater of bonds, designated certain firms "nationally recognized statistical rating organizations" (NRSROs). Today, if you are a bank or a pension fund or an insurance company you have a firm grasp of the safety of your bond holdings - they're as safe as an NRSRO has told you they...

Author: /time Magazine | Title: How to Fix the Credit-Ratings Agencies | 3/23/2009 | See Source »

...team that plans to bring the economy out of the recession is a bit like a traveling circus. Once every few days, it stops on Wall St., the metaphor for all of the troubled banks, brokerages, insurance companies, and pension funds. Then it rolls off to Washington or Detroit, depending on where the next announcement of new stimulus programs is to be made. Over the last several months it has bounced from place to place and there may never be an end to that...

Author: /time Magazine | Title: Will Detroit Need More Bailout Money? | 3/23/2009 | See Source »

...entities, which employ approximately 106 million people. That makes AIG America's largest life and health insurer; second largest in property and casualty. Through its aircraft-leasing subsidiary, AIG owns more than 950 airline jets. Just for good measure, AIG is a huge provider of insurance to U.S. municipalities, pension funds and other public and private bodies through guaranteed investment contracts and other products that protect participants in 401(k) plans. "We have no choice but to stabilize [it] or else risk enormous impact, not just in the financial system but on the whole U.S. economy," said Fed Chairman...

Author: /time Magazine | Title: How AIG Became Too Big to Fail | 3/19/2009 | See Source »

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