ProgramBusiness
 
  


Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
  3. Comments
News Article Details

NY Legislators to Probe on Whether Bond Insurers Were Defrauded by Banks

Back | A- | A+
 Email This     Print     Subscribe


Posted on 31 Jan 2011

At a hearing slated for Feb. 16, New York legislators will look into whether banks selling mortgage-backed securities and other structured financial products defrauded insurers.

Bond insurers’ exposure from the bonds during the financial crisis of 2008 caused many of them to seek rehabilitation or bankruptcy protection.

According to  report in Reuters, an unnamed aide to Joseph Morelle, chairman of the state Assembly Insurance Committee, said the hearing would be held in New York City. The hearing, depending on what legislators discover, could be the first step toward possible legislation regarding the situation.


Comments

Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000