bond insurance

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MBIA Loses $2.3 Billion on Write-Downs

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 economy
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The Bond Insurer Meltdown

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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