For Immediate Release: May 08, 2013
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.