MBIA blasts Ackerman’s bond insurer plan
The New York State Insurance Department also reproached the plan, arguing that it would be “bad for the banks.”
William Ackman, head of Pershing Square Capital Management LLC, has come up with a solution for the troubled bond insurers, but the plan is meeting with stiff opposition, according to published reports.
The activist investor pitched his plan to the New York State Insurance Department on Tuesday.
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