Monoline insurers not only benefit the investors and sponsors of CDOs but are often the key to the successful execution of innovative transactions... Monoline insurers have the resources, expertise, and financial wherewithal to understand underlying assets, conduct due diligence, provide feedback to the structuring institutions, interact with rating agencies and work for long periods on newer and more innovative transaction structures.
~ Iftikhar Hyder, XL Capital Assurance Inc., "Collateralised Debt Obligations and the Role of Monoline Insurers," September 24, 2002
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