Neither MBIA or AMBAC has declared bankruptcy yet. Now, Lehman Brother already filed, so maybe it’s you who is not as familiar with the Real Estate Capital markets.
Neither MBIA or AMBAC has declared bankruptcy yet. Now, Lehman Brother already filed, so maybe it’s you who is not as familiar with the Real Estate Capital markets.
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I didn’t say bankruptcy, I said they went bust. IMO, a $50 stock that is now trading at $.75 is bust! Bankruptcy is a technical issue at this point. The fact is that the market does not expect payment on the guarantees issued by MBIA or AMBAC. There may actually be some payment, another fact that is drown out in the market panic.