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.
"A republic, if you can keep it." Defeat MAGA
"A republic, if you can keep it." Defeat MAGA
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…