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Banks May Be Liable For MBS Losses, Ambac Unit Says

By Erin Marie Daly ( November 19, 2010, 1:01 PM EST) -- Ambac Assurance Corp., a unit of bankrupt bond insurer Ambac Financial Group Inc., has said that banks may be on the hook to pay for losses the company incurred when it insured certain residential mortgage-backed securities that tanked because of the U.S. housing crisis....

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