The New Yorker: Crunch time for bond insurers

Story date: 2008-02-05 08:41:00
Added on: 2008-02-05 19:01:43

MSNBC - In order to expand, they started insuring the complex securities that Wall Street created by packaging mortgages, including ... The problem is that this process works in reverse, too. If the insurers lose their AAA ratings — credit agencies have made ...


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