In case anyone wonders why the market started tanking.
Get short and enjoy.
Get short and enjoy.
MBIA to lose AAA
- Thread starter flipflopper
- Start date
Now reviewing ABK to lose AAA....
Goodnight.
Goodnight.
This will have a nasty ripple effect on financials.
Funny how MER upgraded LEH this morning... people think that these financial messes that take years of wreckless behavior to create take only a few months to unwind.
My buddies who were in there mid 20's and barely graduated high school were driving 100K AMG's.
I knew something was amiss!!!
Funny how MER upgraded LEH this morning... people think that these financial messes that take years of wreckless behavior to create take only a few months to unwind.
My buddies who were in there mid 20's and barely graduated high school were driving 100K AMG's.
I knew something was amiss!!!
Hmmmmm. two largest INSURERS going bk during credit crisis will have no impact...
you better hit the books and study a bit harder my friend.
Please explain how? How can it have "nasty ripple effects" when a $700m company like ABK gets blow out of the market while it was "insuring" $100s of bln worth of bonds? What's the surprise here?
The market knew for months that this was coming and the "insurance" provided by ABK and the likes was worthless. The liquidation of these bond insurers won't have any major impact except for the equity holders in their shares (as I said, $2-3 bln combined market cap wiped away).
is Buffet interested in MBI?
Oh... I see. So the banks that are insured have already written off the additional losses they will incur by not being able to file claims.
Or maybe you want the Fed to "spot them"?!?
Typical Bull looking for a bailout.