(The following press release from the New York State Department of
Financial Services, was received by e-mail and was reformatted. The sender
verified the statement.)
STATEMENT OF NEW YORK SUPERINTENDENT OF FINANCIAL SERVICES BENJAMIN M. LAWSKY
THE MBIA-SOCIÉTÉ GÉNÉRALE SETTLEMENT
Today’s settlement between SocGen and MBIA lifts the last of the
litigation clouds that have been hanging over MBIA for years. Today is a
good day for SocGen and truly a new day for MBIA. This fair resolution
will hopefully help strengthen the municipal bond market, which is
critical to our nation’s infrastructure and economic recovery.
For more information: Matt Anderson, 212.709.1690
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