Wednesday, March 26, 2008

Credit Crunch threatens yet another big casualty

Bond insurer FGIC falls below key regulatory capital level

CHICAGO (MarketWatch) -- After setting aside just over $800 million to pay expected subprime mortgage-related losses, troubled bond insurer FGIC Corp. says it has fallen below legally required statutory capital levels, which means it must come up with a plan to raise money or face stringent consequences, the company said Wednesday.

Posted by blank cheque @ 04:42 PM (580 views)
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