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.
| |||||
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 heard of a loss that big, have you? MBIA, the largest bond insurer is [...] |  | ||||
Copyright © 2012 Politics in the Zeros - All Rights Reserved | |||||
Recent Comments