Hartford Financial Services Group Inc. is infusing $20 million into a troubled Florida thrift to keep it afloat, buying time in hopes the Treasury Department will allow insurers to participate in the Troubled Asset Relief Program.
The Hartford could lose the investment if its deal to buy Federal Trust Corp. falls through, observers said. But with regulators threatening to seize the $585 million-asset thriftand eliminate Hartford's best chance at government capitalthe gamble is worth taking, they said.
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