Thursday, January 24, 2008
New York state insurance regulators are trying to solve one of Wall St.'s biggest concerns -- the solvency of bond insurers Ambac Financial Group and MBIA, Inc. Bond insurers guarantee the principal and interest payments of municipal bonds. Both have attempted to raise additional capital as higher defaults put their ratings at risk. The state insurance regulator arranged a meeting to discuss a Wall St. bailout. WSJ, New York Seeks Bailout of Bond Insurers.