Gkonos Quoted in MarketWatch

Gkonos Quoted in MarketWatch

"Banks may recapitalize Ambac to save AAA rating", Marketwatch

February 22, 2008

James S. Gkonos, a Partner and Vice Chair of the Insurance Practice Group, was quoted in this article that explains the recapitalization efforts of eight banks that are major counterparties to Ambac Financial Group in an attempt to save the struggling bond insurer’s AAA rating.

“Putting capital into an insurer is more of a contract issue between the companies involved, rather than a regulatory issue,” said Gkonos. “That would be the simplest and most effective way to do this.”