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  "documentTitle": "Assured Guaranty (AGO)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2018-04-23 00:00:00",
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  "notes": "The slide uses a pun in the title to highlight the outsized exposure to New Jersey state debt.",
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      "text": "A single impaired credit could create a significant problem.",
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      "text": "Generally, in a highly levered structure, diversification makes a lot of sense. AGO is concentrated: Look at the top 10 insured credits. A single impaired credit could create a significant problem.",
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      "text": "Source: AGO 2017 financial supplement... Greenlight calculations; Moody's Investors Service; and S&P publications.",
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      "text": "Issuer, Net Par ($M), % of BV, Internal Rating, Moody's Rating. New Jersey (State of), 4821, 70%, BBB, Baa1...",
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