Finance and M&A News and Updates

Washington is wrestling with the financial and ideological challenges of owning a growing chunk of the American economy -- banks and insurers today, automakers tomorrow, who-knows-what next. Rather than leaving management of this $700 billion-plus "venture capitol" fund to the federal bureaucracy, Congress and the Obama administration should establish a bipartisan cadre of private-equity directors to oversee it. Not only would such a group of skilled investors do better for shareholders -- the U.S.

Well, it's something. According to trustee Irving Picard, Madoff's firm still has $830 million in liquid assets that can be distributed to the thousands of victims. This, of course, is just part of what victims hope they can recover. In addition, victims and their lawyers will seek all of Madoff's personal wealth, money that was pulled out by lucky Madoff investors over the past few years, as well as assets of Madoff's enablesr (Merking, Fairfield, Tremont et. al.)

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INDIANAPOLIS -- Managed care provider Cigna Corp. said Monday the slumping economy has forced it to cut roughly 1,100 jobs, as it deals with employer customers who also are making cuts and reducing the number of people covered by insurance.

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