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Monolines given five days to find funds
Thursday February 14, 7:50 pm ET
By Aline Van Duyn in Washington and Michael Mackenzie in New York
Eliot Spitzer, New York governor, gave bond insurers three to five business days to find fresh capital, or face a potential break-up by state regulators who want to safeguard the municipal bond markets.
Mr Spitzer's warning came shortly before Moody's Investors Service highlighted concerns about the bond insurers by withdrawing its triple-A credit rating for privately held Financial Guaranty Insurance Company.
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