Replies to post #1394 on Ambac Financial Group Inc (AMBC)

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Wisc Regulator: Bond Insurer Rescue Talks 'Productive'Last update: 10/22/2008 1:10:34 PM

By Lavonne Kuykendall
Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)--Top bond insurers and their state regulators had a "productive" meeting in New York City Tuesday to discuss ways they might participate in the U.S. Treasury Department's rescue plan, said a spokesman for one of the regulators Wednesday.Talks will continue, said Jim Guidry, an aide in the Wisconsin Department of Insurance. The second-largest bond insurer, Ambac Financial Group's (ABK) bond insurance unit is headquartered in Wisconsin, and is regulated by Wisconsin Insurance Commissioner Sean Dilweg, who said last week that major insurers would meet to discuss options for making a proposal to Treasury to participate in its rescue plans for financial services companies.Guidry said the group, which includes at least some of the major bond insurers, Dilweg and New York Insurance Superintendent Eric Dinallo, would continue to "evaluate all the options with participants."The largest bond insurer, MBIA Inc. (MBI) is headquartered in New York.Some possibilities include having bond insurers sell some of their troubled assets to the Treasury, or request an equity or other investment.In an interview on CNBC last week, Dinallo suggested that bond insurers could be substantially strengthened for $10 billion to $20 billion.-By Lavonne Kuykendall, Dow Jones Newswires; 312-750-4141; [e-mail] here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=fVwNxmV... You can use this link on the day this article is published and the following day.(END) Dow Jones NewswiresOctober 22, 2008 13:10 ET (17:10 GMT)Copyright © 2008 MarketWatch, Inc. All rights reserved. Please see our Terms of Use.
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