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FGIC Could Go After Banks Under $1B Detroit Debt Deal

By Andrew Scurria (November 12, 2014, 6:03 PM EST) -- Financial Guaranty Insurance Co., the insurer of $1.1 billion in Detroit's pension-related debt, has reached an agreement to pay off underlying bondholders for the right to sue UBS AG and Bank of America Corp. over troublesome swaps connected to that debt, FGIC said Tuesday....

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