NU Online News Service, May 12, 4:00 p.m. EDT
Armonk, N.Y.-based bond insurer MBIA, Inc. reported a $1.5 billion loss for the first quarter of this year driven by a $2.2 billion unrealized loss on insured credit derivatives.
The results reported Monday were in stark contrast to net income of $697 million for the same period last year.
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