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’MBIA takes on the New York Times
Incomplete. Unreliable. Inaccurate. Misleading.
Those are just some of the adjectives MBIA hurled at the New York Times on Wednesday in an epic, 2076-word rebuttal (with footnotes) of a story written by Gretchen Morgensen and Vikas Bajaj,
Ambac, like MBIA, wants Fitch to withdraw its ratings
This just out from Fitch:
Fitch Issues Statement on Ambac Withdrawal Request 18 Jun 2008 1:02 PM (EDT) Fitch Ratings-New York-18 June 2008: Fitch Ratings today received a request from Ambac Financial Group,
MBIA’s monoline endgame ethics
Yves Smith at Naked Capitalism says it is “shameful”: the holding company for monoline MBIA is pulling the plug on a $900m recapitalisation for its bond insurance subsidary. It’s holding onto the money for itself.
Monolines: Breaking up is hard to do
The monolines aren’t looking very mono anymore. Except perhaps in a nasty, sickly way.
Everyone seems to be after a split now – even if they’re not sure how they’d like it to happen.
But forget a bisection of the municipal and structured finance units of the largest bond insurers.
MBIA brings back former CEO
MBIA has brought back Jay Brown, its former chief executive, to run the company in a move that could smooth the way for a broader restructuring of the world’s biggest bond insurer, including dividing its operations.