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Keyword: monolines
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Monolines given five days to find funds (or face break-up)
Monolines given five days to find funds By Aline Van Duyn in Washington and Michael Mackenzie in New York Published: February 14 2008 14:54 | Last updated: February 14 2008 21:47 Eliot Spitzer, New York governor, on Thursday gave bond insurers three to five business days to find fresh capital, or face a potential break-up by state regulators who want to safeguard the municipal bond markets. Mr Spitzer’s warning came shortly before Moody’s Investors Service highlighted the concerns about the bond insurers by withdrawing its triple-A credit rating for privately held Financial Guaranty Insurance Company. However, the sting of Moody’s...
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