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Los Angeles City Attorney Rocky Delgadillo filed two separate suits, one against the bond insurers and the other against banks. The suit against bond insurers alleges their involvement with the subpri

Los Angeles has accused Ambac Financial, MBIA, XL Capital Assurance, ACA Financial Guaranty, Financial Guaranty Insurance Co. and CIFG Assurance North America of plotting to support a bifurcated system of credit ratings that pressured states and

Fitch Ratings said that while the near-term rating outlook for the bond insurance industry is "negative," the intermediate-term outlook is "uncertain" based on a combination of possible positive and n

Bond insurers would face increased scrutiny under legislation proposed by Rep. Barney Frank, D-Mass., who added the threat of the federal government taking some of the market away from private

Action on MBIA, Moody's said, reflects the firm's limited financial flexibility and impaired franchise, as well as the substantial risk within its portfolio of insured exposures and a movement toward

A provision in Rep. Frank's bill, the Municipal Bond Fairness Act, or HR 6308, calls for the U.S. Treasury to collect data on municipal bond insurers, including their financial soundness, concentratio

"Relative to a year ago when the company was at a trading value disadvantage compared with the major primary companies, Assured's successful negotiation of the nonprime RMBS [residential mortgage back

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 bon