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Mr. Sullivan, stop whining!
Feb 25 10:50 am
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All Comments by bondboy »Thoughts on Ambac Bailout, MBIA, Berkshire's Muni Bond Backing [View article]
As ABK and MBI stock prices declined 90%, the talking heads at CNBC trashed the monolines all the way down, repeatedly using such words as "insolvent" (Cramer) and "bankrupt" (Gasparino). Do you think someone assisted CNBC's thinking and profited in the process?
On friday morning , Gasparino reports that downgrades are imminent sending the stocks down another 10%.
On friday afternoon, Gasparino reports that an equity infusion for ABK is in the works, and the stocks rally.
To which incident of maipulation should we object?