bond insurance
MBIA Loses $2.3 Billion on Write-Downs
Read the full article: http://biz.yahoo.com/ap/080131/earns_mbia.html
MBIA Inc. reported write-downs of $3.5 billion on souring credit markets Thursday, exacerbating concerns that rising costs could squeeze local governments as well as slow any recovery for big banks.
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The Bond Insurer Meltdown
Read the full article: http://briefing.com/GeneralContent/Investor/Active/ArticlePo...
Today, Ambac lost its triple-A rating. This story talks about the implications of a bond insurer failure. This is basically the second shoe to drop.
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