January 25, 2008
New York's Efforts to Bail Out Bond Insurers Hits a Snag
As New York State Insurance Superintendent Eric Dinallo explores ways to bail out the bond insurers that guarantee municipal bonds and other debt, he is encountering resistance from Wall St. Part of the problem is that the firms may not have the money to invest; another may be their disinclination to work with Mr. Dinallo, who was one of Eliot Spitzer's chief attorneys in his investigations into Wall St. firms a few years ago. WSJ, Bond-Insurer Rescue Effort Faces Wall Street Skepticism.
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