FGIC Loses $33.4 Million, After Offsetting Writedowns
Bloomberg - May 23, 2008 (New York)
by Christine Richard

"The company is saying that its ability to pay you back is impaired and therefore its guarantees are worth less," said Janet Tavakoli president of Tavakoli Structured Finance in Chicago. That this offsets the company's writedowns related to CDOs "is a bit of dark comedy," said Tavakoli.


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