This is very different than a CD, which comes from a bank with Federal Deposit Insurance Corp. protection up to $250,000. And it's different than a U.S. Treasury bond, backed entirely by the U.S. government.
Rob Brunhild trusted his broker when he was sold principal-protected notes underwritten by Lehman Brothers, noting that the broker implied that the notes were like Treasuries. His expectations for a solid return were dashed when Lehman went under, wiping out his investment. He said his family lost $275,000 on the notes.
“I had to tell my mother,” Brunhild said. “Mom lived off of this money.”
A left-leaning policy group concerned about economic fairness has released a report card on various budget proposals – and, perhaps not surprisingly, the House GOP fiscal 2012 plan doesn’t fare so well.
Report: A "Realistic Solution" To The "Long-Term Budget Outlook" Includes "Rebalancing The Tax Code And Increasing Tax Revenue From Those Most Able To Pay." In a November 2010 report titled, Investing in America's Economy: A Budget Blueprint for Economic Recovery and Fiscal Responsibility, Demos, Economic Policy Institute, and The Century Foundation laid out a "blueprint" for a "strong economic recovery" and "deficit reduction." From the report:
Wherever the final line is drawn, Democrats appear willing to accept a deal close to Republican leaders’ original plan. White House aides say that such a deal could pay political dividends when the bigger fights start because the agreement would establish the president as the most reasonable politician in Washington. Progressives are not happy, however, even if Democrats are able to remove controversial GOP policy riders, such as those that eliminate funding for Planned Parenthood and hamper the implementation of the health care law.
The state attorney general wants federal regulators to take enforcement action against the Indian Point nuclear plant for what he called the company's failure to comply with fire safety requirements.
"In the wake of Japan's crisis, our country's nuclear facilities should be bolstering their safety measures, yet Indian Point is looking to weaken its precautionary measures," Attorney General Eric Schneiderman said Monday.
ALBANY — Cleanup of hard-hit areas in New York from Tropical Storm Irene is expected to take months because roads and bridges have to be rebuilt, farms restored and infrastructure reconstructed.
While experts say the flooding was impossible to prevent, the storm that ravaged upstate wasn't initially expected because most of the original focus was on New York City and its suburbs, which ultimately didn't get hit as badly as rural areas.
Today, the U.S. House Committee on the Judiciary passed, on a party-line vote, one of the most sweeping attacks in decades on government protections.
The Rules from the Executive in Need of Scrutiny (REINS) bill would require that any major regulatory rule issued by a federal agency be affirmed by a majority vote in both the House and Senate. The vote would have to take place within 70 days.