phantomfivefive

MBIA: Moody's Twists the Knife

Berkshire entered the market precisely because of the opportunity created by the stupidity of the monolines themselves. There may indeed be a future in the bond insurance business, but not for anyone who is currently on the hook for multibillions in CDS's on toxic MBS. That pretty much disqualifies MBI and ABK. Sorry, but Ackman has been right all along. It's all over but the shouting, which is beginning now.