The New York Department of Insurance has been meeting with investment banks, which are exposed as counterparties to the bond insurers, to try to arrange a bailout of the industry, the demise of which could put thousands of municipal issuers at risk of being unable to raise money.

FORBES: Magazine Article

The charges Boies referred to, according to Spitzer's office, were complaints that Greenberg and AIG had shortchanged the New York State Workers' Compensation system and had misled the state insurance department on matters of reserve reporting.

FORBES: Greenberg Still Headed To Court