The monoline bond insurers were the big crisis back when the financial world didn’t know what that meant. So Wednesday’s announcement by MBIA that it would split its businesses came with a hint of nostalgia.
An existing subsidiary to be known as “National” will take over its US public finance insurance obligations, putting legal distance between the business and MBIA’s troubled structured finance operations. The aim is to help capital raising and writing of new business.

Monolines 

