Insurance companies have now joined the growing list of American firms vying for a piece of the bailout pie.According to the Wall Street Journal large insurance companies are snatching up small regional banks to speed up their transition to savings-and-loan holding companies thereby qualifying them for capital infusions from Washington. Like Goldman Sachs (GS) and Morgan Stanley (MS) who recently made similar conversions insurance companies are looking for billions of dollars in government money to shore up their battered balance sheets. Over the last week Hartford Financial Services (HIG) purchased Federal Trust of Sanford Florida; Genworth Financial (GNW) bought ... ...
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