Presidential Town Hall Visit Precludes February 10 Cabinet Meeting
Feb 9, 2009
In order to accommodate Florida Governor Charlie Crist’s appearance at a Fort Myers town hall meeting on the same date, the February 10, 2009 Florida Cabinet meeting has been rescheduled to March 10, 2009.
Tomorrow, the Governor is scheduled to introduce and join President Barack Obama in an effort to generate public support for the Federal economic stimulus plan.
Several insurance-related items had been on the February 10 Cabinet agenda, including the adoption of a proposed Rule containing major changes to credit life and disability insurance and a review of Florida Hurricane Catastrophe Fund financing options.
To view the complete February 10 Cabinet meeting agenda, click here.
A press release from the Governor’s Office detailing his appearance with President Obama tomorrow is reprinted below.
Also below, Reuters reported today that, as early as February 16, the U.S. Treasury is expected to approve Troubled Asset Recovery Funds for insurance companies that previously applied for the monies.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.
MEMORANDUM: Governor Crist to Join President At Fort Myers Town Hall Meeting Tomorrow
The White House announced today that Florida Governor Charlie Crist will introduce President Barack Obama at a town hall meeting in Fort Myers to discuss the urgent need for a plan to help American families cope with the severe economic downturn and lay the foundation for our long term recovery. Statements from the President and Gov. Crist about tomorrow’s event are included below.
“I look forward to traveling to Ft. Myers tomorrow to talk to Floridians about how we get our nation’s economy back on track. Gov. Crist and I have seen firsthand the toll that this economic crisis has taken on the American people, and we agree that we can’t allow politics to get in the way of urgent relief for the millions of families and small businesses that need it,” said President Barack Obama.
“Florida has taken prudent steps to cut taxes for our people and balance our budget in these increasingly difficult times. Any attempts at federal stimulus must prioritize job creation and targeted tax relief for small business owners. I am eager to welcome President Obama to the Sunshine State as he continues to work hard to reignite the US economy,” said Florida Governor Charlie Crist.
REUTERS: Treasury to approve insurers for TARP funds: sources
WASHINGTON (Reuters) – Insurance companies that applied for capital injections from the government’s $700 billion financial bailout fund could get approval as soon as Monday, two sources familiar with the matter said on Saturday.
Some insurance companies recently received approval to acquire banks, paving the way for them to participate in the government’s $250 billion capital injection program, which is part of the larger bailout fund.
The sources said those insurance companies could hear from the U.S. Treasury Department as soon as Monday about whether they will get cash in return for giving the government equity stakes.
About a dozen insurers have applied for capital injections, but it is unclear which companies will get approval.
Bank regulators last month approved applications from Hartford Financial Services Group Inc (HIG.N: Quote, Profile, Research, Stock Buzz) and Lincoln National Corp (LNC.N: Quote, Profile, Research, Stock Buzz) to become savings and loan holding companies, which is needed for them to be considered for the federal aid.
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