New York Insurance Superintendent Eric Dinallo said today that stock market reaction to the $1.66 billion quarterly loss reported by Ambac Financial Group Inc. yesterday showed that the furor over bond insurer stability has subsided.
"The market did not go down. Two months ago it would have gone down 500 points," he said.
Capital-raising activity by the firm, said the superintendent, has paid off and "we've put rationality and calm into the market."
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