EMAG does the Grand Tour - papers 9 December

EMAG is alleging the government and regulators knew the society was paying out more than its assets, in every year of the 1990s – up to 28% more in one year. "This business model, and its deficiencies, were known, or should have been known, to the UK regulator, since they were central to an appreciation of the financial soundness of Equitable Life," EMAG says. The group believes compensation will be forthcoming, as it cites the case of steelmaker ASW, whose workers received some £400m in state support when that business failed, the Telegraph says. A TORY GOVERNMENT would look to st...