Sunday, November 16, 2008

Bailout Greed... Can Anything Top This?

Bloomberg via Joe Nocera:

Hartford Financial Services Group Inc. jumped 21 percent to $12.65.
Why?
The insurer that lost 79 percent of its market value in the past two months said it's buying a Florida bank for $10 million to become eligible for federal rescue funds. Hartford expects to qualify for $1.1 billion to $3.4 billion under Treasury Department guidelines.