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Author Archives: Amy McCullough

Hosemann: Stanford Denial is weak

At last week’s hearing, both officials and victims who testified repeatedly implored the state to fight for Securities Investor Protection Corporation (SIPC) funds for victims in the worst circumstances. SIPC, created by Congress in 1970, guarantees up to $500,000 per investor in case of an SIPC member firm’s failure. Investors are angry that victims of the recent Bernard Maddoff ponzi ...

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They thought they were protected

Victims of Stanford Financial scheme still trying to find ways to collect money they lost Both officials and victims of the Stanford Financial scheme who testified at a hearing at the State Capitol last week focused on the failures of two federal financial regulatory agencies and begged for state assistance in the retrieval of funds for destitute Americans. The Securities ...

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'We got robbed the day we retired': Victims talk about Stanford debacle

Troy and Melanie Lillie of Maurice, La. lost their life’s savings in the Stanford Financial Group Ponzi scheme. “We got robbed the day we retired,” Melanie Lillie said in a post-hearing interview at the state Capitol Monday in Jackson. Her husband worked for Exxon Mobil in Baton Rouge for 29 years before retiring and instantly investing his retirement funds with ...

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Unemployment drops a full point

Mississippi is now below the national average of 9.6 percent ACROSS MISSISSIPPI — The state unemployment rate dropped a point to 9.5 percent in August as compared to July’s 10.5 percent, but the drop isn’t likely signaling a trend. Of Mississippians unemployed in July, 16,600 gained jobs in August, putting the state’s jobless rate below the national average of 9.6 ...

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Community Bancshares takes federal funds

Other small Mississippi banks choose again not to take part in TARP Washington is considering another round of bailouts for banks that were too small or risky for the first disbursement of Troubled Asset Relief Program (TARP) funds in fall 2008. But “bailout” might not be the right word, since some banks receiving these funds are in good financial standing. ...

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UPDATE: Small Miss. banks still not interested in TARP

Washington is considering another round of bank bailouts for banks that were too small or risky for the first disbursement of Troubled Asset Relief Program funds in fall 2008. But “bailout” might not be the right word, since some banks receiving these funds are in good financial standing. Qualifications are vague, but these new funds could go to banks with ...

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Fighting Swine Flu

Small businesses trying to protect themselves from employees being out cause of illness Instances of the H1N1 virus or “swine flu,” which are continuing to increase nationwide, are of particular concern to small businesses as most people have not developed immunity to this new virus. The illness of one infected worker could possibly spread, shutting down an office for several ...

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Experts won't confirm drop in unemployment as a trend

ACROSS MISSISSIPPI — The state unemploy- ment rate dropped a point to 9.5 percent in August as compared to July’s 10.5 percent, but experts can’t confirm the drop is signaling a trend. Of Mississippians unemployed in July, 16,600 gained jobs in August, putting the state’s jobless rate below the national average of 9.6 percent. This change may be attributed to ...

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