Post Tagged with: "insurance"
Ambac may file bankruptcy soon
Bond insurer Ambac Financial has warned bankruptcy is a distinct possibility, sending its shares plummeting more than 30% today. What is intriguing about this pending bankruptcy is how this company escaped bankruptcy in 2008, was downgraded continually in 2009, yet just reported billions in profit 5 days ago. Now it warns of bankruptcy? This story
MBIA and Ambac sued by LA
The lawsuits are piling up. America is a very litigious country and when things go wrong people sue. That’s one reason one should realistically expect the courts to be clogged with all manner of suits on bond insurance, auction rate securities, CDOs, predatory lending, and on and on. The latest in this string comes from