N.Y.'S LAWSKY ANNOUNCES MBIA-SOCIÉTÉ GÉNÉRALE SETTLEMENT
(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 ON
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