beachtango

The Jury is Still Out on the Monolines

well if they're in a run off mode they will still be worth twice what they are worth now .....guaranteed!

The Jury is Still Out on the Monolines

I cannot for the life of me understand how arguments against the monolines are refuted and the monlines themselves are affirmed their ratings by comapnies that have been around for quite some time, and are supported and looked upon for guidance by local and state goverments yet just about every article I read on Alpha Dog is against the monlines and mock the agencies that are looked up to. I bet if the rhetoric from Ackman and his ilk,(CNBC), the street.com, and Aplha dog stopped for just a few weeks people would realize what a waste of time it was to read what he and his backers, or should I say fellow shorters stated, and realize that these companies will recover and prevail. I wonder if the people who write here know more than Pincus, Davis fund, and other huge investors that have invested millions and millions of dollars..recently and at much higher stock levels than the present share price . Does anyone think that they would invest in a losing concern? I think not. I wonder if there will be articles written about other apects of the monolines, like ways they can procure new business with their affirmed ratings. Stop bashing, and lets help with thoughts and positive ideas...

Thoughts on Ambac Bailout, MBIA, Berkshire's Muni Bond Backing

MBI announces in response to media and other inquiries concerning the "Ackman plan" presented to regulators and then widely disseminated last week by Mr. William Ackman, principal of Pershing Square Capital Management, the co today released a letter it sent on Friday, February 22 to the Honorable Eric Dinallo, Superintendent of the New York State Insurance Department and the Honorable Michael T. McRaith, Director of the Illinois Division of Insurance. "As we stated last week, we believe this proposal is simply a continuation of Mr. Ackman's campaign to profit from his short positions and credit default swaps in the bond insurance industry... Mr. Ackman has only two objectives: to impede the ability of companies who are trying to strengthen their financial resources to meet the needs of existing and future policyholders, and to further his own personal agenda and financial objectives. His calculated practice of using the media to broadcast his self-serving and misleading letters, reports and presentations is, we believe, clear evidence of his agenda. "At a time of critical importance in the financial guarantee industry, Eric Dinallo and the staff of the New York State Insurance Department and other regulators are working tirelessly to assist all financial guarantee companies to develop plans to meet the needs of all their constituencies... Assuring that these plans treat all policyholders on an equitable basis is an extraordinary challenge that requires thoughtful and careful evaluation. Mr. Ackman should let the officials charged with regulating the industry do their jobs instead of continuing a relentless media-driven campaign fueled only by personal financial gain."