Law Practice
Oct. 9, 2008
San Francisco Sues Five Municipal Bond Insurers
San Francisco City Attorney Dennis Herrera on Wednesday accused five municipal bond insurers of misleading the city into buying millions of dollars of worthless insurance coverage.
By Dhyana Levey
Daily Journal Staff Writer SAN FRANCISCO - San Francisco City Attorney Dennis Herrera on Wednesday accused five municipal bond insurers of misleading the city into buying millions of dollars of worthless insurance coverage. The situation reached "disaster levels" when these bond insurance companies - after taking hundreds of millions of dollars in premiums from California cities - then insured hundreds of billions of dollars of subp...
Daily Journal Staff Writer SAN FRANCISCO - San Francisco City Attorney Dennis Herrera on Wednesday accused five municipal bond insurers of misleading the city into buying millions of dollars of worthless insurance coverage. The situation reached "disaster levels" when these bond insurance companies - after taking hundreds of millions of dollars in premiums from California cities - then insured hundreds of billions of dollars of subp...
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