MBIA gives more detail on subpoenas
MBIA, the New York State based financial guarantor and provider of specialised financial services, has clarifed details of the identical subpoenas it has received from the Securities and Exchange Commission and the New York Attorney General's office. Initially it said they requested information with respect to non-traditional or loss mitigation insurance products developed, offered or sold by MBIA to third parties from January 1, 1998 to the present but that they did not identify any specific transaction.
It now says, in a subsequent call made to the SEC, it has learned that the investigation will include the reinsurance arrangements entered into by MBIA in 1998 in connection with the bankruptcy of theOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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