The ongoing financial crisis could put public transit systems
nationwide at risk of defaulting on more than $2 billion in
loans backed by troubled insurer American International Group,
an industry advocacy group said Thursday.
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"These securities are incredibly sound," Healy said. "It's
really the loss of the rating that has caused the situation.
We really believe that if Treasury could step in and back
the securities, it could eliminate risk at no cost to taxpayers."
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