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Bond Insurers Distress Rattles Wall Street

Appeared on January 19, 2008

“The most damning effect is on the value of bond insurance itself,” said Joseph R. Mason, a professor of finance at Drexel University and the Wharton School, both in Philadelphia. “The big question that should be asked for issuers is: ‘Why should I buy bond insurance?’ ”

Read the full story at The New York Times