Day January 18, 2008

Fitch cuts Ambac rating to AA

Look out below. The downgrades of bond insurers have begun. This downgrade means the start of more write-downs for banks. Just how much, no one knows. It also means that bonds that were AAA rated are no longer.

No peak oil?

Forecasts of peak oil are wrong, says a new study by industry experts that says there’s still lots of oil left in the ground. This seems a bit evasive to me. Because the real question is not how much is…

Bond insurers in trouble

This could be a financial nuclear bomb. Seriously. The major bond insurers are in serious trouble and losing spectacular amounts of money. Ambac, the 2nd largest, just announced a 4th quarter loss of up to $32.83 a share. I’ve never…

Cleantech investing hit $5 billion in 2007

Co-founder and chairman of the Cleantech Group, Nicholas Parker, says: “We foresee continued growth over 2008 as the cleantech market cycle moves from early adoption to mainstream driver of wealth and job creation.” If you’re reading this blog, you probably…