Prudential Financial, Others, Turn Down TARP
By Ryan Ellis • Monday, June 1, 2009 4:07 pm
Finally, Wall Street seems to be getting it:
Prudential Financial Inc. today said that it won’t participate in the Department of the Treasury’s Capital Purchase Program.
Last month, the Treasury Department opened TARP to a handful of life carriers, including Allstate Corp. of Northbrook, Ill., Ameriprise Financial Inc. of Minneapolis, Hartford (Conn.) Financial Services Group Inc., Lincoln National Corp. of Radnor, Pa., and Principal Financial Group Inc. of Des Moines, Iowa.
Allstate and Ameriprise declined the TARP funds within days of being offered the money.
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