Some insurers back away from TARP money

While it is good that some firms are backing away from the TARP money, some companies are still accepting the money with all of its restrictions:

Ameriprise Financial Inc., one of six life insurers preliminarily approved in the past week for billions in federal aid, said Friday that it wouldn't take the money. Prudential Financial Inc. is expected to reject it, too, according to a person familiar with the matter.

Two others, Allstate Corp. and Principal Financial Group Inc., responded tepidly. Each firm noted that it had recently raised $1 billion in the markets. In statements, they stopped short of saying they would participate in TARP.

The remaining two firms, Hartford Financial Services Group Inc. and Lincoln National Corp., were more enthusiastic, saying they were pleased by the news. In statements, Hartford said it could tap $3.4 billion, and Lincoln, $2.5 billion. These two firms have seen their share prices fall by more than 70% since the end of 2007. . . . .