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Detroit crisis may give lift to muni bond insurers

wochit news
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August 11, 2013 AT 9:23 AM
At first glance, it is hard to see Detroit's bankruptcy filing as anything but another body blow for downtrodden U.S. municipal bond insurers, which could be on the hook to investors for hundreds of millions of dollars in losses on the city's debt. But the city's fiscal upheaval may in fact have the opposite effect - providing the marketing spark needed to revive a business decimated by the financial crisis like few others.