by Calculated Risk on 2/14/2008 03:02:00 PM

From MarketWatch: Bond insurers have days to re-capitalize, Spitzer says

Bond insurers have four to five business days to re-capitalize themselves enough to keep their crucial AAA credit ratings, New York Governor Eliot Spitzer said during a Congressional hearing ... If that doesn't happen, regulators will have to step in and separate bond insurers' municipal businesses from their more troubled structured finance units.

The next few days should be interesting.