john haskell

Marty Whitman on MBIA, Radian

I guess when Whitman says the companies are "extremely well managed" he does not have in mind MBIA's habit of concealing material adverse information from the market?

Also what "extremely well managed" company departs from its tried and true, highly profitable business of insuring munis, which almost never default, for the completely untried business of insuring CDO squareds?

Even if these CDOs weren't blowing up, the simple fact that they "diworsified" into a business they knew nothing about says all I need to know about this "excellent management."