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Superdome Sues FGIC Over 'Worthless' ARS Insurance

By Julie Zeveloff (January 27, 2009, 12:00 AM EST) -- The owner of the Superdome in New Orleans has sued Financial Guaranty Insurance Co., claiming a $13 million insurance policy it purchased to protect $238 million in auction rate securities issued to fund the renovation of the stadium essentially became worthless after FGIC's credit rating was downgraded last year....

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