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Assets held in individual retirement accounts are not savings that can…

Assets held in individual retirement accounts are not savings that can be seized by creditors in bankruptcy proceedings, a unanimous U.S. Supreme Court said Monday.

The IRAs belonging to Richard and Betty Jo Rousey are akin to deferred wages that were intended to be used for retirement and qualify as a shielded asset from Chapter 7 proceedings, Justice Clarence Thomas wrote in overturning an Eighth Circuit Court of Appeals ruling.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.