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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 highlights specific state-level credit risks for AGO, contrasting Illinois and New Jersey.",
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      "text": "These represent potential significant problems for AGO in the future.",
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      "text": "$209.4 Billion",
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      "text": "U.S. public finance exposure: $209.4 Billion",
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      "text": "AGO has $17 billion of exposure to Illinois. And while people are already leaving Illinois, it is not in the worst shape of any U.S. State – it is only #49 according to research from George Mason University. The top honor belongs to New Jersey, where AGO has $12.4 billion in exposure. Illinois debt per capita is $50,400. New Jersey's is $67,200, and already has one of the highest tax rates. These represent potential significant problems for AGO in the future.",
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      "text": "Source: www.mercatus.org/statefiscalrankings. AGO 2017 financial supplement, available at http://assuredguaranty.com/investor-information/bycompany/ assured-guaranty-ltd; and Greenlight calculations.",
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