Special Report
Market Turmoil Hits Munis
Here, you’ll find ongoing coverage about how fallout from deterioration in the subprime mortgage sector continues to affect the municipal market including bond insurers, underwriters, issuers and stalled deals.
Bond Insurers
Return of Triple-A Insurers Unlikely
Treasury Exposure A Huge Roadblock
By Taylor Riggs | Aug 11The municipal bond insurance world will not be directly affected by the U.S. Treasury downgrade, according to municipal analysts. However, the likelihood of the bond insurers regaining their AAA status when the U.S. does not hold that title anymore is very slim. [Free]
Radian Closes Deal to Acquire MIAC After Regulator's Nod
By Patrick McGee | Jun 17Radian Asset Assurance Inc. announced the successful acquisition of Municipal and Infrastructure Assurance Corp. on Thursday, following the approval of its regulator, the New York Insurance Department.
Assured Guaranty Gets Ready To Stamp Its Logo on CIFG
By Patrick McGee | Apr 21Assured Guaranty Corp. announced Wednesday it would begin the process that eventually should lead to it directly guaranteeing bond insurance policies originally issued by the now-defunct CIFG Assurance North America.
Bond Insurers
Court Nixes IRS Claim Against Ambac
By Patrick McGee | Feb 22The chances that Ambac Assurance Corp. will be able to keep $700 million of disputed tax refunds increased last week when a federal court in Wisconsin again threw out the Internal Revenue Service’s case against the bond insurer.
Insurers: Bankers Tricked Us
Say Banks Knew RMBS Were Toxic
By Patrick McGee | Feb 18The municipal bond insurance industry would still be thriving today if big banks hadn’t defrauded the insurers. [Free]
Bond Insurers
IRS Takes Another Stab at Ambac
By Patrick McGee | Feb 15Bond insurer Ambac Assurance Corp. remains at risk after the Internal Revenue Service filed an amended complaint last week to retrieve more than $700 million of tax refunds. [Free]
MBIA Set to File Amended Complaint Against Merrill
By Patrick Temple-West | Feb 08MBIA Inc. isn’t losing its fraud case against Merrill Lynch without a fight.
