MBIA Former CEO Back in His Old Post
Today MBIA Inc, which is mired in the bond insurance industry-wide crisis, announced that former Chief Executive Jay Brown was returning to the company to replace the current CEO, Gary Dunton.
Brown said in a statement that he had already spoken to New York State Insurance Superintendent Eric Dinallo, who is trying to devise a solution to the woes of MBIA and its major rivals, which stem from their heavy exposure to sub-prime-related securities.
Published on February 19, 2008
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