Mr Mortgage

Ambac, MBIA Finally Get the Rating They Deserve

You are right...it is all crooked. As housing prices continue to fall over the next couple of years, all ABP will be taken down with it. These guys do not have the money to pay even a remotely small portion of their potential liabilities. MBIA and ABK are the IMB and CFC of the insurance world. Worthless. AGO is next. How they skated through all of this is amazing.