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Guarantee Security Life Insurance Company
Guarantee Security Life Insurance Company, or GSLIC, represented one of the most severe cases of insurance fraud in Florida history. According to the Florida Insurance Commissioner: SLICwas, almost from the beginning, a massive fraud, aided and abetted by blue-ribbon brokers and licensed professionals motivated by their own self-interest. The fraud at Guaranteed Security was a carefully orchestrated bank robbery. But the thieves disguised themselves with the help of accountants and brokers and lawyers rather than wearing silk-stocking masks. The allegations by Florida insurance regulators against accounting firm Coopers & Lybrand ultimately led to a $4.5 million settlement. The U.S. Securities and Exchange Commission found that Merrill Lynch "failed to properly record the terms and conditions of certain transactions which involved the sale and repurchase of certain securities" and ordered that Merrill adopt procedures and controls to ensure compliance with the SEC's book's and re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chevrolet Corvette
The Chevrolet Corvette is a two-door, two-passenger luxury sports car manufactured and marketed by Chevrolet since 1953. With eight design generations, noted sequentially from C1 to C8, the Corvette is noted for its performance and distinctive fiberglass or composite panels. It was front-engined through 2019 and mid-engined since. The Corvette is currently the only two-seat sports car produced by a major United States auto manufacturer and it serves as Chevrolet's halo vehicle. In 1953, GM executives accepted a suggestion by Myron Scott, then the assistant director of the Public Relations department, to name the company's new sports car after the corvette, a small maneuverable warship. The first model, a convertible, was introduced at the 1953 GM Motorama as a concept car; production models went on sale later that year. In 1963, the second generation was introduced in coupe and convertible styles. Originally manufactured in Flint, Michigan, and St. Louis, Missouri, the C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Financial Services Companies Of The United States
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Companies Of The United States
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Glenn
John Herschel Glenn Jr. (July 18, 1921 – December 8, 2016) was an American Marine Corps aviator, engineer, astronaut, businessman, and politician. He was the third American in space, and the first American to orbit the Earth, circling it three times in 1962. Following his retirement from NASA, he served from 1974 to 1999 as a Democratic United States Senator from Ohio; in 1998, he flew into space again at age 77. Before joining NASA, Glenn was a distinguished fighter pilot in World War II, the Chinese Civil War and the Korean War. He shot down three MiG-15s, and was awarded six Distinguished Flying Crosses and eighteen Air Medals. In 1957, he made the first supersonic transcontinental flight across the United States. His on-board camera took the first continuous, panoramic photograph of the United States. He was one of the Mercury Seven, military test pilots selected in 1959 by NASA as the nation's first astronauts. On February 20, 1962, Glenn flew the ''Friendship ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Energy Subcommittee On Oversight And Investigations
The U.S. House Energy Subcommittee on Oversight and Investigations is a subcommittee within the United States House Committee on Energy and Commerce, House Committee on Energy and Commerce. Jurisdiction Responsibility for oversight of agencies, departments, and programs within the jurisdiction of the full committee, and for conducting investigations within such jurisdiction. The House Energy and Commerce Committee has jurisdiction over domestic and international sport, has investigated reports of abuse in sports, and has led congressional efforts to enact new laws to at better protect athletes. It has an interest in sexual assault, sexual misconduct, sexual mistreatment, sexual harassment, and other sexual offenses in the U.S. Olympic movement and organized sports. Members, 117th Congress Historical membership rosters 115th Congress 116th Congress References External linksOfficial Homepage Subcommittees of the United States House of Representatives, Energy Oversight ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Dingell
John David Dingell Jr. (July 8, 1926 – February 7, 2019) was an American politician who served as a member of the United States House of Representatives from 1955 until 2015. A member of the Democratic Party, he holds the record for longest-serving member of Congress in American history, representing Michigan for more than 59 years. He most recently served as the representative for Michigan's 12th congressional district. A longtime member of the House Energy and Commerce Committee, Dingell was the chairman of the committee from 1981 to 1995 and 2007 to 2009. Born in Colorado Springs, Colorado, he attended Georgetown University as an undergraduate and law student. Dingell began his congressional career by succeeding his father, John Dingell Sr., as representative for on December 13, 1955; his father had held the seat for 22 years. He left office on January 3, 2015. Having served for over 59 years, he has the longest congressional tenure in U.S. history. Together with Jami ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generally Accepted Accounting Principles
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straight forward. Larger firms most often operate on an accrual basis. Accrual basis is one of the fundamental accounting assumptions and if it is followed by the company while preparing the Financial statements then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include: identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames. Limitations The notable limitations of accounting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preferred Stock
Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation. Terms of the preferred stock are described in the issuing company's articles of association or articles of incorporation. Like bonds, preferred stocks are rated by major credit rating agencies. Their ratings are generally lower than those of bonds, because preferred dividends do not carry the same guarantees as interest payments from bonds, and becaus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Security
United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Since 2012, U.S. government debt has been managed by the Bureau of the Fiscal Service, succeeding the Bureau of the Public Debt. There are four types of marketable Treasury securities: Treasury bills, Treasury notes, Treasury bonds, and Treasury Inflation Protected Securities (TIPS). The government sells these securities in auctions conducted by the Federal Reserve Bank of New York, after which they can be traded in secondary markets. Non-marketable securities include savings bonds, issued to the public and transferable only as gifts; the State and Local Government Series (SLGS), purchaseable only with the proceeds of state and municipal bond sales; and the Government Account Series, purchased by units of the federal government. Treasury securities are bac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junk Bond
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner. The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1989-90, the default rate was in the 5.6% to 7% range. During the pandemic of 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right Against Self-incrimination
The right to silence is a legal principle which guarantees any individual the right to refuse to answer questions from law enforcement officers or court officials. It is a legal right recognized, explicitly or by convention, in many of the world's legal systems. The right covers a number of issues centered on the right of the accused or the defendant to refuse to comment or provide an answer when questioned, either prior to or during legal proceedings in a court of law. This can be the right to avoid self-incrimination or the right to remain silent when questioned. The right may include the provision that adverse inferences cannot be made by the judge or jury regarding the refusal by a defendant to answer questions before or during a trial, hearing or any other legal proceeding. This right constitutes only a small part of the defendant's rights as a whole. The origin of the right to silence is attributed to Sir Edward Coke's challenge to the ecclesiastical courts and their ''ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
