Tag Archives: Monolines

Bond Insurer FGIC Ordered To Stop Writing Policies and To Cease Paying Claims; ISDA Announces FGIC ‘Failure to Pay’ Credit Event

This post was written by David Schlecker and Andrea Pincus. 3rd Quarter Financials Lead to Action By NYS Superintendent of Insurance and ISDA On November 24, 2009, Financial Guaranty Insurance Company (“FGIC”), a New York- domiciled monoline financial guaranty insurer, was ordered by New York’s Superintendent of Insurance to cease writing any new policies and to … Continue Reading

The Future of Monolines?

Felix Salmon reads the tea leaves left by Warren Buffet and concludes that the already disastrous monoline situation is unlikely to improve any time soon. Money quote: Given all these reasons to buy bonds rather than insure them, I do wonder what’s going to happen to the monoline market. Historically, it’s been a license to print … Continue Reading
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