(Updated with corrected information about MBIA exposure to Detroit. It is $2.5 billion, not $3.4 billion as previously stated.)NEW YORK ( TheStreet) -- Michigan's planned appointment of an emergency financial planner to take over the city's finances "should not be viewed as a negative" to financial guaranty insurers MBIA (MBI - Get Report) and Assured Guaranty (AGO - Get Report), according to MKM Partners analyst Harry Fong.
Detroit Takeover Won't Harm Muni Insurers: Analyst
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.