john hancock financial
john hancock created an index called the
john hancock investor sentiment index
in 2011 .
john hancock life insurance company (u. s. a .) (john hancock usa), john hancock life insurance company of new york (john hancock new york), and john hancock retirement plan services, llc are collectively referred to as
john hancock
.
john hancock advertisements and newspaper articles from the 1930s refer to it as the “john hancock life insurance company” .
john hancock advertisements and newspaper articles from the 1930s refer to it as the
john hancock life insurance company
.
both john hancock life insurance company (u. s. a .) and john hancock life insurance company of new york do business under certain instances using the john hancock retirement plan services name .
john hancock was honored with the 2018 financial capability innovation award presented by the nation' s leading educational technology innovator, everfi, inc. the award recognizes john hancock' s ...
on september 29, 2003, it was announced that manulife financial corp. was acquiring john hancock financial services, inc. for $ 10. 4 billion .
john hancock is dedicated to providing innovative life insurance solutions to help you address a variety of financial planning goals and needs .
on april 29, 2004, the existence of john hancock financial services, inc. as an independent company formally ended .
compare data from john hancock investments funds with hundreds of other mutual funds and etfs .
john hancock advisers, llc is the investment advisor for the closed - end funds .
1940s source refer to it as the
john hancock mutual life insurance company
.
john hancock retirement plan services, llc offers administrative or recordkeeping services to sponsors and administrators of retirement plans. john hancock trust company llc provides trust and custodial services to such plans .
, and other forms of business insurance. additional information about john hancock may be found at
april 21, 1862, the charter of the john hancock mutual life insurance company was approved by john a. andrew, governor of massachusetts .
john hancock etfs are distributed by foreside fund services, llc, and are subadvised by dimensional fund advisors lp. foreside is not affiliated with john hancock funds, llc or dimensional fund advisors lp .
john hancock freedom 529 is an education savings plan offered by the education trust of alaska, managed by t. rowe price, and distributed by john hancock distributors llc through other broker - dealers that have a selling agreement with john hancock distributors llc. john hancock distributors llc is a member of finra and is listed with the municipal securities rulemaking board (msrb). © 2018 john hancock. all rights reserved. information included in this material is believed to be accurate as of the printing date .
manulife continues to use the john hancock brand name for the majority of its u. s. businesses .
john hancock announced that linda watters, vice president, government relations, will retire on august 31. watters will remain as a director on the john hancock (usa) board and as a director on ...
in 2000, led by david f. d’alessandro, the company “demutualized”, meaning that “john hancock mutual life insurance company” formally ceased to exist, and a new company named “john hancock financial services, inc. ” came into existence. policyholders received shares in the new company in exchange for giving up ownership in the old. life insurance continued to be sold by an entity known as the “john hancock variable life insurance company”, a subsidiary of john hancock financial services inc. on january 27, 2000, shares of hancock stock started to trade on the new york stock exchange under the symbol jhf .
jh enterprise® is a registered trademark by john hancock life insurance company (u. s. a .) .
jh signature™ is a trademark of the group annuity contracts and recordkeeping agreements issued by john hancock life insurance company (u. s. a .), used under license by john hancock life insurance company of new york .
are you a journalist looking for information about john hancock? please reach out to one of our public relations contacts .
in 2000, led by david f. d' alessandro, the company
demutualized
, meaning that
john hancock mutual life insurance company
formally ceased to exist, and a new company named
john hancock financial services, inc .
came into existence. policyholders received shares in the new company in exchange for giving up ownership in the old. life insurance continued to be sold by an entity known as the
john hancock variable life insurance company
, a subsidiary of john hancock financial services inc. on january 27, 2000, shares of hancock stock started to trade on the new york stock exchange under the symbol jhf .
( jhfn) is the retail distribution company of john hancock life insurance company, u. s. a. , which is a wholly owned subsidiary of manulife financial corporation .
© 1999–2018 john hancock funds, llc and affiliated companies. member finra | sipc, 601 congress street, boston, ma 02210
john hancock financial is a subsidiary of manulife financial, one of the largest and strongest global insurance companies in the world. manulife financial’s strength comes from its diversity of operations, solid market positions and strong management. the leadership has management depth, expertise and a common vision to be the most professional life insurance company in the world. to learn more about manulife. john hancock financial services is a unit of manulife financial corporation, a leading canadian - based financial - services group serving millions of customers principally in asia, canada and the us. manulife ranks as the 12th largest public life insurer in the world and the third - largest in north america based on market capitalization. (source for rankings: thomson reuters john hancock provides solutions for eight of consumers’ top 10 financial concerns, including the need to plan for retirement, the cost of healthcare / medical expenses, outliving savings and financial security after retirement. john hancock can be found at urltoken manulife financial corporation trades as ‘mfc’ on the tsx, nyse and pse, and under ‘0945’ on the sehk .
during 2004, manulife merged its original u. s. domiciled business units with the newly acquired company under the john hancock name .
john hancock created an index called the
john hancock investor sentiment index
in 2011. [ 3 ] the company describes the index as a
quarterly measure of investors' views on a range of investment choices, life goals and economic outlook .
[ 3 ]
group annuity contracts and recordkeeping agreements are issued by john hancock life insurance company (u. s. a .), boston, ma (not licensed in new york) and john hancock life insurance company of new york, valhalla, new york. product features and availability may differ by state .
john hancock retirement plan services, llc, john hancock life insurance company (u. s. a .) and john hancock life insurance company of new york each make available a platform of investment alternatives to sponsors or administrators of retirement plans without regard to the individualized needs of any plan. unless otherwise specifically stated in writing, each such companies does not, and is not undertaking to, provide impartial investment advice or give advice in a fiduciary capacity .
john hancock retirement plan services can help you build a retirement plan program that puts participants first, providing you with the tools to address unique challenges and goals .
at john hancock investments, we build funds based on investor needs, then search the world to find proven portfolio teams with specialized expertise for every strategy we offer .
if you have a 401 (k) account with john hancock through your employer, you can log in to check your balance and keep track of your savings .
ing u. s. , inc. officially becomes voya financial, inc .
2 as of december 31, 2016, john hancock life insurance company (usa) supported 43, 943 plans, 1, 589, 390 participants, and $ 79, 204, 221, 000 in fum assets. john hancock life insurance company of new york supported 2, 401 plans, 73, 311 participants, and $ 4, 361, 845, 000 in fum assets. john hancock retirement plan services, llc supported 10, 804 plans, 1, 064, 498 participants, and $ 60, 694, 019, 000 in fum assets. approximate unaudited figures for john hancock retirement plan services division, provided on a u. s. statutory basis .
protect your family' s financial future with life insurance that pays you back now .
at john hancock, we know that no two individuals are alike. we offer tools, solutions, and advice to address the unique challenges and goals that come with retirement planning .
in a memo to all employees, ceo marianne harrison announced the company would be returning to the back bay section of boston by the end of 2018. the 1, 100 employees will be moving into 200 berkeley street, sometimes known as the
old john hancock building
and 197 clarendon street. john hancock no longer has a presence in the back bay tower at 200 clarendon street, still known by many bostonians as the hancock tower. [ 2 ]
john hancock today expanded its behavioral and wellness - linked life insurance to include healthymind, a benefit designed to support the mental well - being of its customers through meditation and ...
in october 2017, marianne harrison became the first female president and chief executive officer of john hancock. she earned a reported $ 4. 4 million in compensation in 2017. [ 4 ]
the john hancock investor sentiment index® reflects the percentage of investors who say they believe it is a
good
or
very good
time to invest, minus those who feel the opposite .
at john hancock we believe that our employees are our biggest asset. our culture fosters collaboration, and we recognize that we are our most successful when we can bring you innovative ideas from different perspectives .
at john hancock we believe that social responsibility isn’t just good practice, its good business. we invest in our community partners to help make them strong today and achieve their greatest potential in the future .
john hancock retirement plan services is steadfastly committed to helping you retire with dignity. our participants 1st ® approach arms individuals with solutions, advice, and tools appropriate for their unique retirement challenges and goals .
, economist with john hancock .
the djia is approximately 3, 000 points higher now than it was at this time last year, and investors seem to be taking their cue from that .
/ prnewswire / - - investor sentiment rose during the second half of 2016 and into the start of 2017, buoyed by investors' confidence in the improving stock market, according to the john hancock investor sentiment survey. the john hancock investor sentiment index® score for q1 2017 was + 29, four points higher than when the survey was last conducted in q2 of 2016, and ten points higher than one year ago in the first quarter of 2016 .
as part of the company' s
back to basics
effort, ing group sold the u. s. group reinsurance business to reinsurance group of america, inc. in january 2010. the following month, the company closed a deal with lightyear capital for the purchase of financial network investment corporation, multi - financial securities corporation, and primevest financial services, which along with ing financial partners, inc. , collectively did business as ing advisors network. the three broker - dealers that were sold now operate at cetera financial group .
the manulife isi is a long - established research series in north america. the manulife isi has been measuring investor sentiment in canada for the past 17 years, and extended this to its john hancock operation in the u. s .
a july 2, 1998, boston herald story, john hancock mutual life insurance co. chairman, is quoted: “we have always said quite clearly that we are not for sale, ” [ stephen l. ] brown said, moving to kill speculation about possible deals with bankboston or fleet financial group. “there are simply no merger talks going on. ”
voya financial, inc. debuted in april and completed its rebranding in september. voya is an abstract name coined from the word ‘voyage. ’ the name reflects momentum and optimism. it reminds us that a secure financial future is more than just reaching a destination; it’s about a journey to financial empowerment, and having positive experiences along the way .
a july 2, 1998, boston herald story, john hancock mutual life insurance co. chairman, is quoted :
we have always said quite clearly that we are not for sale ,
[ stephen l. ] brown said, moving to kill speculation about possible deals with bankboston or fleet financial group .
there are simply no merger talks going on .
the house financial services committee began debate on september 11, 2003 and held multiple hearings over the next several weeks. in supporting the bills, republicans focused on gse’s potential impact on the broader financial system. democrats focused solely on the mortgage lending targets, stating there was no risk to the broader financial system because the federal government would bail out the gses if necessary .
after two years of transforming the strategy, financial profile, and culture of the company, ing u. s. began trading as a public company on the nyse under the ticker symbol voya, which represents its future brand identity, voya financial .
not sure where to start? a financial advisor can help you plan, implement, and manage your investment and retirement goals .
fannie mae’s reported financial results follow generally accepted accounting principles to the letter…. there should be no question about our accounting. ”
barack obama had three strong impacts on the financial crisis, placing him easily in the top 20 people to have caused it .
: mr. dodd received questionably favorable treatment from one of the housing bubble’s top non - gse subprime offenders, countrywide financial. countrywide established a special
bravo! i’m speechless and can’t believe you compiled such an impressively detailed account of the events leading up to the financial fiasco. superb read! !
president obama is using the financial crisis to make americans doubt themselves, their values, and the very system they had believed enabled their specialness. in the vacuum of this doubt, he is moving his agenda to radically alter the fiber of what it means to be american. – tj hancock (american )
half of investors (51 percent) report being in a better financial position now compared to two years ago, significantly more than the share who felt this way one year ago (41 percent). consistent with prior surveys, nearly half believe they will be in a better financial position two years in the future (48 percent) .
[ … ] mac in 2005, but barney frank and chris dodd kept that from happening. a little background: housing bubble, financial crisis – what happened, who is responsible tj hancock _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ make sure you are right and then go ahead. davy [ … ]
( d - ma) who nearly became president in 2004 and whose support would have been key in preventing investigations into fannie’s illegal accounting that masked its central role in financial crisis .
. manulife financial corporation trades as' mfc' on the tsx, nyse and pse, and under' 945' on the sehk. manulife can be found on the internet at
your clients trust you to bring them the advantages of a strong and solid financial leader. our experience and expertise are here for you. familiarize yourself with our suite of products to better serve your clients .
while democrats have advocated lifting restrictions on fannie mae and freddie mac, the bush administration and the federal reserve have insisted that the companies deserve close scrutiny because of their large role in the mortgage and financial markets .
, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. assets under management and administration by manulife and its subsidiaries were
investor sentiment survey is a poll of affluent investors. the survey measures investors' feelings about the current economic climate and their evaluations of what represents a good or bad investment given the current environment. the poll also asks consumers about their confidence in reaching key financial goals and their attitudes toward specific financial products and services. this online survey was conducted by independent research firm greenwald & associates. a total of 1, 017 investors were surveyed from
under senate rules, any legislation not passed into law by the end of the session automatically expires, and that’s exactly what democrat stonewalling achieved. the 108 th congress ended in january 2005, and with it, the senate bill. senator charles hagel (r - ne) re - introduced the on january 26, 2005, with the co - sponsorship of john mccain (r - az), elizabeth dole (r - nc) and john sununu (r - nh) .
financial crises just do not happen overnight and for no special reason. the changes to the gse system that really enabled the financial crisis began in the mid - 1990s. no one change, especially at the beginning, caused the crisis by itself, but all the pieces were essentially in place by the wind down of the enron scandal in 2001. at that point, it became a matter of reversing course in washington, which can be a curiously difficult thing to do .
from 1995 – 2008, democrats chris dodd, barack obama and john kerry received more fannie mae money that any politician. remarkably, obama places as number two despite having been in the senate less than four years, versus kerry’s 23 and dodd’s 34 .
if you are interested in learning more about our products, we suggest that you contact your financial advisor. if you' re not currently working with an advisor, we encourage you explore the benefits to consider making one a part of your strategy .
when rahm emanuel joined the house of representatives in january 2003, democrats gave him a seat on the financial services committee, where he served under barney frank blocking effective gse regulation efforts. democrats also gave mr. emanuel a seat on the subcommittee that directly oversaw fannie mae and freddie mac – despite having served as freddie director during the scandalous accounting. a major initiative at freddie during mr. emanuel’s directorship was campaigning congress against regulations that would add transparency to the gse’s financial health or potentially restrict its mortgage lending activities .
, 2017. respondents were selected from among members of research now' s online research panel. to qualify, respondents were required to participate at least to some extent in their household' s financial decision - making process, have a household income of at least
putting barney frank and chris dodd in charge of financial market “reform” is yours to come to peace with… same exact thing democrat party leadership did by putting jamie gorelick on the 9 - 11 commission after she wrote the gorelick wall that was perhaps the number one factor in the communication breakdown before the attack. yes, the same jamie gorelick dems made vice chairman of fannie mae in 1997 without one stitch of high - level financial market experience. also, yours to come to peace with. the fact that senior fannie executives — who were cooking the books so badly american taxpayers are still paying the tab — gave barack obama, while a first - term senator, more money than any other politician in the history of fannie, before or since, followed only by chris dodd and john kerry…also yours…
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to be sure, investors report plenty of concerns in the john hancock survey. topping the list is the cost of health care, with 56 percent expressing great concern, and a third saying they are greatly concerned over potential changes to the affordable care act. forty - two percent are very concerned about global terrorism. investors are concerned, though less so than in previous quarters, about the level of the national debt, and interest rates. fewer are concerned about the unemployment rate, and more investors feel it is now a good time to start a business, switch jobs, or retire .
we strive to be a source of hope and trust, offering a solid foundation for the financial future of our clients. in all that we do we focus on making a difference - not only with our products, but in our community, in the lives of our employees, and for the environment .
about manulife investor sentiment index in asia. manulife' s investor sentiment index in asia (manulife isi) is a half - yearly, proprietary survey measuring and tracking investors' views across eight markets in the region on their attitudes towards key asset classes and issues related to personal financial planning. the manulife isi is based on 500 online interviews in each market of hong kong, china, taiwan, japan, singapore, malaysia, indonesia and the philippines. respondents are middle class to affluent investors, aged 25 years and above who are primary decision maker of financial matters in the household and currently have investment products .
“we are concerned that if effective regulatory legislation for the housing - finance government sponsored enterprises (gses) is not enacted this year, american taxpayers will continue to be exposed to the enormous risk that fannie mae and freddie mac pose to the housing market, the overall financial system, and the economy as a whole. ”
receivership was a key provision, because it would be a strong step towards separating gse liabilities from the us federal government — and telling the financial markets that the federal government not bail fannie mae out if it took met financial difficulties due to taking on inordinate risk. if fannie essentially went bankrupt, it was strongly implied – even stated outright by democrats during 2003 congressional hearings – that the us federal government would back fannie. the receivership would eliminate politicians’ ability to “dance the potomac two - step” on the issue…publicly stating the government does not guarantee fannie’s individual securitized mortgages, while also stating the government stands behind fannie in the event that fannie runs into serious financial trouble. in absence of government backing, fannie would have to act more like an independent company in charge of its own risk profile. any investor doing business with fannie mae would therefore have to do the same. receivership would be akin to bankruptcy reorganization, in which investors were often not paid what they put in .
the new lines of business aspect had a backstory. from the beginning of the clinton cra changes through 1998, fannie’s assistant director for product initiatives was herb moses, who was — in their words — “spouse” with barney frank (d - ma), the democrats’ ranking member on the house financial services committee, which oversaw gses .
, the clinton - appointed ceo, received over $ 90 million. jamie gorelick — a top clinton administration lawyer whom he appointed in 1997 to be fannie mae vice chairman despite having no formal financial experience – received over $ 26 million. just by way of reference, in 2002, 21 senior fannie mae executives received over $ 1 million each .
if your state or your designated beneficiary’s state offers a 529 plan, you may want to consider what, if any, potential state income - tax or other state benefits it offers, such as financial aid, scholarship funds, and protection from creditors, before investing. state tax or other benefits should be one of many factors to be considered prior to making an investment decision. please consult with your financial, tax, or other advisor about how these state benefits, if any, may apply to your specific circumstances. you may also contact your state 529 plan or any other 529 education savings plan to learn more about their features. please contact your financial consultant or call 866 - 222 - 7498 to obtain a plan disclosure document or prospectus for any of the underlying funds. the plan disclosure document contains complete details on investment objectives, risks, fees, charges, and expenses, as well as more information about municipal fund securities and the underlying investment companies that should be considered before investing. please read the plan disclosure document carefully prior to investing .
by then, auditors were deep into another freddie accounting scandal. management had improperly failed to recognize declines in value on a meaningful portion of the $ 260 billion in mortgages it owned. through its accounting methods, management was squeezing optimal earnings out of the machine, but illegally glossing over freddie’s true financial position…health…in other words, it was juicing the income statement by bastardizing the balance sheet .
as ranking house financial services committee ranking democrat, mr. frank led dems’ house effort to loosen mortgage lending standards and defend gses from republican regulation attempts. he also made statements to lead investors to believe that, while the federal government would not guarantee individual fannie mortgage issues, it would fund fannie if buying fannie mae’s securities involved little risk because the implied federal guarantee was quite real. for instance ,
despite the evidence presented by ofheo, deloitte & touche, the sec, and several financial analysts, democrats never wavered in shielding fannie mae from effectively increased regulation or transparency. despite the regulatory bills passing out of committees in the house and senate, and passing the full house, it never had a chance of being enacted as long as senate democrats remained unified in opposition — it needed five democrats; none stepped forward .
the bush proposal generated bills in the house and senate. according to the congressional research service, each bill would have replaced the weak gse regulator with one that was independent of congressional political pressures and independently responsible for gse “ safety, soundness, and mission regulation. ” if the new regulator determined that fannie or freddie was in financial distress, it could put them into receivership, limiting their activities until safety and soundness could be regained .
what does that have to do with dems overtly stonewalling any look into fannie and freddie while overtly telling fannie and freddie to pump the system with bad loans? i don’t disagree with the spirit of your last comment…government was pumping the system with bad loans. yes it was. government is now doing the same with treasuries. who was behind that? the democrat party plain as day. key points follow: 1) politicians’ meddling — not at all capitalism — enabled and promoted the financial crisis. yes, ronald reagan’s statement that the 9 most terrifying words in the english language are, “i’m from the government, and i’m here to help” was perhaps never so accurately displayed; 2) the democrat party — at a very high level — had a significant, direct and overt role in pushing the financial system into crisis, then executed a plan to benefit from that crisis — plain as day; 3) at an individual level, several naive and / or unprincipled republican and democrat politicians somewhat unwittingly participated. you only need look so far as artur davis, one of the key dems on the house financial services committee, whom dem leadership directed to run interference on republican efforts to reign in fannie and freddie; once he saw what was really going on, he called it out and has now switched parties — plain as day .
helping you and your family realize your financial goals is our top priority. we design products that work for you throughout every stage of your life. we’re reinvigorating life insurance by partnering with vitality to reward policy - holders for leading healthier lives, providing unique investment perspectives with our manager of managers model, and we’re finding new ways to put participants first on their way to retirement. above all else our goal is to put you, our customer, first .
equitable life insurance company of iowa was founded in 1867 by 15 prominent citizens of des moines, iowa. in 1888, co - founder f. m. hubbell became president of the company. many of his descendants would assume the same role, most recently frederick s. hubbell (1987), who retired as an executive board member of ing group in 2006, and later joined the board of ing u. s. , inc. and voya financial, inc .
in the case of the housing crisis, that power, as president clinton stated above, was the democrat party. democrats united to steadfastly resist many repeated efforts to effectively increase transparency with regard to gse accounting and mortgage market activities. in a nutshell, as congressman artur davis stated — who was one of those democrat on the house financial service committee — they were worried that increased transparency would slow gses’ mortgage buying, because investors might stop giving money to gses so freely and at such low interest rates .
2) it gave gmac financial services $ 3. 8 billion of taxpayer funds, on top of the $ 12. 5 billion it had already extended in a bail out. until recently, gmac was general motors’ finance unit, but it is now a government bank holding company. the new investment makes the us federal government gmac’s majority owner. gmac suffered badly from risky mortgage market activities but, as what is supposed to be its primary business, it essentially controls the sales network for general motors and chrysler cars .
reliastar' s predecessor northwestern national life insurance company (nwnl) was founded in 1885 in minneapolis. it grew into one of the largest financial services companies in the u. s. , offering life insurance, annuities, mutual funds, group insurance and reinsurance. in 1967, it purchased north atlantic life insurance company of jericho, ny. in 1977, it acquired northern life insurance company of seattle. these companies were unified under the reliastar brand in 1995. the company continued to grow through acquisitions, including pilgrim funds, a mutual funds business acquired in 1999 .
republicans moved swiftly to enact a stronger gse regulatory framework… democrats dug trenches and defended. please recall – if investors become more skeptical about fannie’s health, they would not purchase as many of fannie’s repackaged mortgage securities, at least not at market - low interest rates. that situation would reduce fannie’s ability to buy mortgages, particularly in the risky subprime market. this was something democrats wanted to avoid, at severe cost if necessary. one way to counter the increased risk perception was to directly state that, while the government does not guarantee fannie’s individual securitized mortgage issues, the federal government would, in fact, step in to bail fannie out if it got into serious financial trouble. during a congressional hearing ,
3) the obama “pay czar” made public statements supporting multi - million - dollar incentive - based compensation packages for senior fannie mae and freddie mac executives…despite exactly that structure having been singled out by regulators as a primary cause of the gse violations that enabled the housing / financial crisis. the obama administration is incentivizing fannie’s and freddie’s ceos with up to $ 6 million per year, and senior executives can also receive hefty cash payouts under a similar target - based structure as existed during the bubble. both companies / agencies currently operate under taxpayer - funded bailout. the pay czar cited the unique stresses of the jobs, despite the fact that they can now make roughly 12 - times more than the president of the united states .
despite the crisis they enabled, democrats are attempting, successfully, to restart fannie’s and freddie’s ability to take more risk. the attempt currently has two major parts: fund the agencies / companies with more taxpayer money, and remove regulations that restrict their activities in the high - risk loan market. key to the democrat deregulation push is lowering the capital commitment (raising financial leverage) so people and speculators can get mortgages by putting less of their own funds at risk. this reduced capital requirement was a hallmark of the democrats’ deregulation push during the housing bubble, and it has two primary effects… enable people with lower incomes to obtain higher - risk mortgages, and enable investor - speculators (such as valerie jarrett pre - obama administration) to obtain government - backed mortgages by putting less of their own money at risk. as the housing bubble popped, many speculators simply walked away from their mortgages because they had so little of their own funds tied up in the transaction…since they obtained the mortgage through a “corporation” of whatever sort, their personal credit records were unaffected .
rahm emanuel is well known as a chicago - based democrat party political power broker. he began his career with a local community organization and was a key fundraiser for richard daley’s 1989 chicago mayoral campaign; a position mr. daley holds to this day. mr. emanuel then spearheaded fund raising for bill clinton’s 1992 presidential campaign, attracting a then - unheard - of $ 72 million through his connections network. president clinton rewarded him with a white house advisory post in 1993, and very soon after appointed richard daley’s brother, william, to be a fannie mae director. inside the clinton administration, mr. emanuel coordinated political fund flows among democrat party politicians and was a key strategist for clinton - era health care legislation. he left the administration in 1998 to join investment banking firm wasserstien perella. in less than four years as a banker, rahm emanuel earned $ 16. 2 million by raising funds for investment projects, including real estate, and planning corporate mergers. in 2000, while mr. emanuel was still a banker, president clinton gave him the freddie mac directorship. this period in the latter clinton administration years, was arguably designed to be a key acceleration period of the housing / financial crisis. when his directorship neared expiration in 2001, the democrat party gave mr. emanuel the nomination to be congressional representative from a staunchly democrat chicago district. the previous rep, rod blagojevich, had resigned to become illinois governor .
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/ / 1 2016 plansponsor magazine recordkeeper survey (ye 2015 data); june 2016. data for this survey was collected in early 2016 and represents year - end 2015. sixty dc providers responded representing the insurance, mutual fund and payroll industries .
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citistreet was one of the nation' s largest retirement plan recordkeepers, offering products and services for defined contribution, defined benefit and health and welfare plans. the
citi
in citistreet originated as h. c. copeland and associates in 1976. copeland administered and serviced retirement plans in the education, government and healthcare market segments. the
street
in citistreet dates back to the mid - 1970s, offering recordkeeping, fiduciary, investment - management, and communications services for a variety of plans. the two businesses were merged to become citistreet in april 2000 .
aetna life insurance company was incorporated in connecticut in 1853. from 1861 aetna began to expand its product range turning the company into a multiple - line insurer. in order to focus mainly on health insurance, aetna started selling parts of its business .
furman selz was founded in the u. s. in 1973 as a research - driven investment boutique. it was an employee - owned investment bank with offices throughout the united states and in london, dublin and tokyo. furman selz' s investment banking, securities brokerage activities and asset management activities were integrated into various ing businesses .
life of georgia insurance company was acquired by nationale - nederlanden in 1979, resulting in a considerable increase in activities in the united states .
the security life of denver insurance company was established in 1928 as a life and health insurer. in 1940, it expanded into reinsurance and group insurance. it became part of nationale - nederlanden in 1977. in 2004, southland life of ing group was added to life of denver .
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“i think that the responsibility that the democrats had may rest more in resisting any efforts by republicans in the congress, or by me when i was president, to put some standards and tighten up a little on fannie mae and freddie mac. ”
like a lot of my democratic colleagues i was too slow to appreciate the recklessness of fannie and freddie. i defended their efforts to encourage affordable homeownership when in retrospect i should have heeded the concerns raised by their regulator in 2004. frankly, i wish my democratic colleagues would admit when it comes to fannie and freddie, we were wrong. ”
government sponsored enterprises (gses) essentially control the mortgage market. fannie mae, freddie mac and ginnie mae are the three main gses. when someone gets a mortgage from a bank or mortgage broker, that lender can hold the mortgage, but more often sells it to a gse. the ability to sell the mortgage generates much of the mortgage volume we see today. brokers cannot hold mortgages, and banks cannot tie a majority of their funds up for roughly 30 years. when you originate or refinance a mortgage, ask about what role fannie mae plays in your obtaining to obtain the loan, you are very likely to hear that it is quite significant. today, fannie and freddie alone either own or guarantee roughly more than half of the nation’s outstanding mortgage total (the ratio would be higher if not for estimated private arrangements). among new originations, government or government “sponsored” organizations have a hand in 9 of 10, according to the wall street journal .
gses get the money to buy mortgages from selling bonds to investors…you, me, mutual funds, etc. because gses are linked to the us federal government, which has the safest credit rating in the world (currently), investors buy those bonds while demanding low interest payments in return. someone who gets a mortgage pays much higher interest rates than gses do. gses therefore raise money at low rates and purchase mortgages that pay higher rates. they keep some of the mortgages, and resell the rest just as the banks did with them. one big difference… when fannie mae, for example, resells a mortgage it has purchased — it typically guarantees the payments. whether fannie keeps the mortgages, or guarantees and resells them, it assumes the risks that the mortgage holder may not be able to repay, or that the interest rate environment could change, leaving it stuck with worse - than - market payment terms .
the more mortgages gses buy, the more profits they can make…assuming everyone pays their mortgage on time. fannie must pay its creditors on time, but the people who get the mortgages are not always able to do the same. there comes a point at which simply buying mortgages to generate additional revenues becomes counter productive for fannie .
if gses obey standard accounting rules, investors would know right away if that point of diminishing returns is being reached. as we learned this decade with the enron, worldcomm, and bernie madoff scandals, if a company wildly violates those rules, management could paint nearly any picture it designs, at least until something radically changes to make the problem impossible to hide. by far the largest and most active of the gses…fannie mae would put the entire economic system at risk if its management pulled a madoff. because fannie is government sponsored, that could never happen unless some very powerful force assisted the cover up, either overtly or inadvertently .
in 1995, the clinton administration changed the law governing gses’ mission — the community reinvestment act (cra) — to encourage more lending in poor neighborhoods. previously, the cra directed government to monitor banks’ lending practices to make sure they did not violate fair lending rules in poor neighborhoods. with the 1995 change, the government published each bank’s lending activity and started giving bank ratings based primarily upon the amount of lending it performed in poor neighborhoods. these changes empowered community organizations, such as acorn, to pressure banks to increase lending activities in poorer neighborhoods — which involved reducing mortgage loan standards — or face backlash from those organizations’ private and political associates. for instance, if chase made 100 mortgages in a poor chicago district, and countrywide 150, the government would likely give chase a lower cra rating, and community organizers could pressure politicians to make it more difficult for chase to get licensed to do full ranges of business in new areas of the country. low cra ratings could also disadvantage chase with regard to government lending programs and make it more difficult for chase to participate in mergers and acquisitions .
through fannie mae, the government controlled banks’ mortgage lending activity rates. as long as fannie was willing to buy these mortgages, banks had no problem lowering their standards if necessary, making the loans and selling them off to fannie mae. banks could even buy the mortgages back from fannie mae, with fannie’s payment guarantee, thereby eliminating the credit risk (as long as fannie was government backed). now, if the us federal government is behind fannie – and the government has a perfect credit record – there is really little worry for banks, so they might as well make all the mortgages fannie mae is willing to buy, and purchase all the guaranteed debt fannie puts up for sale. however, to the extent investors ever believed fannie was just like any other company — without the us government guaranteeing its debts, at least in bulk — well that would be a different story. the risks involved would go from theoretically near zero, to well, who knows… throughout the congressional debate on gse regulations in 2003 - 2005, senior congressional democrats repeatedly inferred — even directly stated on at least one public occasion — the us federal government would bail fannie mae out if required .
in written law, the us government only 100% guarantees ginnie mae. the other major two gses, fannie mae and freddie mac, exist in more of a grey area. nothing explicitly states the federal government is 100% behind them, but it has always been implied. that is why statements of top government officials in the run up to the bubble are so very important, as are actions like the us president personally appointing fannie’s ceo and directors .
from 1993 - 1999, the clinton administration replaced many of fannie mae’s key executives, including the ceo, the ceo’s number two, and nearly half the board of directiors. as a government sponsored enterprise (gse), the president had the authority to make those appointments. the board, which increasingly consisted of presidential appointments, then worked with the new ceo to change fannie mae executives’ salary structures in order to incentivize them to reach higher mortgage targets. more specifically, the board promised senior executive millions in bonuses each year as long as fannie reported certain earnings figures. just a quick reminder… fannie’s ability to reach earnings targets is directly related to the number of mortgages it buys, as long as those mortgages do not default or as long as fannie executives do not recognize negative changes in the payment flow .
between 1994 and 2004, fannie executives improperly reported $ 10. 6 billion of earnings .
that came into sharp focus on 9 - 11. her policy, which became known as the “
” established barriers that prevented federal anti - terrorist criminal investigators from accessing various federal records and databases…one of the top causes for the 9 - 11 intelligence failure. and jamie gorelick’s curious appointments did not stop with fannie mae… democrats selected her to serve on the 9 - 11 commission; the official government investigation into what happened from an intelligence standpoint, and why. she was in the perfect spot to head off the “gorelick wall” from being a
the only way to change the structure put in place in before 2000 would have been to forcibly replace the board of directors and senior management…but for that, the president would need hard evidence that justified cause. as far as washington insiders publicly knew, all fannie mae was doing was helping poor people buy homes and, in the process, boosting economic activity. who could argue with that? certainly not any nationally - elected politician.
john hancock financial is an informal term for a united states insurance company which existed , in various forms , from its founding on april 21 , 1862 , until its acquisition in 2004 by the canadian insurance company manulife financial . it was named in honor of john hancock , a prominent patriot . the company continues to operate as a wholly owned subsidiary of manulife and its headquarters remains in boston , massachusetts . john hancock financial network ( jhfn ) is the retail distribution company of john hancock life insurance company , u.s.a. , which is a wholly owned subsidiary of manulife financial corporation . 
john hancock financial is an informal term for a united states insurance company which existed, in various forms, from its founding on april 21, 1862, until its acquisition in 2004 by the canadian insurance company manulife financial. it was named in honor of john hancock, a prominent patriot. the company continues to operate as a wholly owned subsidiary of manulife and its headquarters remains in boston, massachusetts. john hancock financial network (jhfn) is the retail distribution company of john hancock life insurance company, u.s.a., which is a wholly owned subsidiary of manulife financial corporation.
john hancock financial is an informal term for a united states insurance company which existed, in various forms, from its founding on april 21, 1862, until its acquisition in 2004 by the canadian insurance company manulife financial. it was named in honor of john hancock, a prominent patriot. the company continues to operate as a wholly owned subsidiary of manulife and its headquarters remains in boston, massachusetts. john hancock financial network (jhfn) is the retail distribution company of john hancock life insurance company, u.s.a., which is a wholly owned subsidiary of manulife financial corporation.