A Perella Weinberg spokesman was not immediately able to comment.
NEW YORK (Reuters) - The New York State Insurance Department has hired Perella Weinberg Partners to advise on bond insurers, a spokesman for the department said on Monday.
A Perella Weinberg spokesman was not immediately able to comment.
Bond insurers, who guarantee more than $2 trillion of securities, have suffered write-downs of bonds and derivatives linked to subprime mortgages. The losses are big enough to potentially trigger ratings downgrades, forcing some investors to sell securities guaranteed by the bond insurers.
Last week, New York State Insurance Superintendent Eric Dinallo met with banks to encourage them to put up cash to support bond insurers.
!ADVERTISEMENT!Perella Weinberg is looking at ways to protect policyholders of the major bond insurers, the Wall Street Journal reported. Some of the major insurers include MBIA Inc <MBI.N> and Ambac Financial Group Inc <ABK.N>.
(Reporting by Dan Wilchins; Editing by Braden Reddall)
