"A republic, if you can keep it." Defeat MAGA
"A republic, if you can keep it." Defeat MAGA
If the bond insurers split into pieces in an attempt to save municipal bonds (like those issued by where you live) then Wall Street investment banks and the like will be forced to take more multi-billion dollar writedowns. Expect them…
After weeks of pretending otherwise, it’s becoming obvious the bond insurers can’t be bailed out. Both the numbers involved and the risk are too high for that. Some major U.S. banks are saying they are prepared for this, but what…
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…