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Ambac
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Latest Headlines
Ambac seeks prepackaged bankruptcy; one bond insurer left
The credit crisis has taken a massive toll on bond insurers. Most lost their AAA ratings and were forced to stop selling new guarantees. Some have been sold or are shutting down. The latest to run into problems: Ambac, which has been ailing for months.
In a regulatory filing, Ambac revealed it
Just how vulnerable are banks in foreclosure crisis?
When it comes to Bank of America (NYSE: BAC ), a stark difference of opinion has emerged about the ultimate costs of the foreclosure mess. Branch Hill Capital, a hedge that is now shorting the bank, has suggested the nation's biggest consumer bank could be facing more than $70 billion in lo
Full impact of bond insurer downgrades not yet felt
The Financial Times notes that banks have yet to feel the full brunt of the impact from the recent downgrades of bond insurers. There likely will be more writedowns stemming from credit default swaps (CDSs) meant to be insurance--what cruel irony--against various collateralized debt obligation
The sad plight of the bond insurers
The near implosion of bond insurers is a sad painful opera that is playing out as we speak. The level to which these companies have descended is awesome. MBIA shares are at their lowest point in a decade, MarketWatch notes. Ambac, at just under $2 a share, is down nearly 100 percent over the p
ALSO NOTED: Ambac takes $3 billion in charges; Microsoft has no plans to raise Yahoo bid; and much more...
Company News:
>Â Ambac takes $3 billion in charges. Article
> SunTrust gets an upgrade based on valuation. Article Â
> UBS memo bares all. Article
> Calamos earnings tank. Article
> Tough questions for Bank of America board. Article
Industr
