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Banks Sue Over MBIA's 'Fraudulent' Corporate Split

By Ryan Davis (May 13, 2009, 12:00 AM EDT) -- A group of 18 financial institutions from around the world, including Bank of America NA, Citibank NA and JPMorgan Chase Bank NA, has alleged that MBIA Inc. defrauded policyholders when the bond insurer split its public finance and structured finance insurance businesses earlier this year....

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