Replies to post #1433 on Ambac Financial Group Inc (AMBC)

[DrHarleyboy]

I think somebody knows something :)!!!!!

[DrHarleyboy]

I think somebody knows something :)!!!!!

[Seminole Red]

Wisc Regulator: Bond Insurer Rescue Talks 'Productive'
10/22 1:25 am (ON)
Story 0883 (ABK, AGO, MBI, SCA)

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]

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(END) Dow Jones Newswires

10 -22 -08 1325ET

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