Ambac (ABK) isn’t trading yet, but MBIA (MBI) is faring well. The market is apparently disappointed that the announced deal was not a simple bail out. The AAA rating isn’t in the bag, either. Fitch has ABK on watch negative, and ABK doesn’t expect to get a stable outlook from S&P or Moody’s. Oops, as I type ABK opens back up for trading and is immediately down over 12%. More later.
Recent Posts:
- Taxpayers to the Rescue of Afghanistan Banking Crisis?
- Economic Data and Earnings Schedule for September 2 2010
- Christina Romer Makes a Final Recommendation Before Leaving To Teach Keynesian Economics
- Homebuilder Hovnanian (HOV) Reports Dismal Quarter
- Auto Sales Data for August 2010
- Stock Market Rewind – September 1, 2010

