Congressman Souder Says Insurer In Danger Of Collapse

According to reports from Bloomberg, Republican Congressman Mark Souder said he met with the representatives of an insurance company in danger of going under because of investment losses.

NOTE: Senator Majority Leader Harry Reid made similar comments last week, but later retracted those comments with some saying he got his facts confused with the AIG (NYSE: AIG) bailout. Major insurance companies MetLife (NYSE: MET), Hartford Financial Services (NYSE: HIG) and Prudential Financial Inc. (NYSE: PRU) all fell on the Reid comments. MetLife commented directly on the Reid comments saying it was financially sound and Hartford Financial announced a large investment from Allianz yesterday.

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