Phoenix Sues Ambac, Others Over Steep Bond Rates

By Nick Malinowski ( March 16, 2010, 3:15 PM EDT) -- The city of Phoenix has sued Ambac Financial Group Inc., MBIA Inc. and Financial Guaranty Insurance Co. for allegedly charging it bond insurance premiums higher than those charged to corporate bond issuers who presented more default risk, a discrimination the city claims has cost it more than $20 million....

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