discov

MBIA: Credit Where Credit Is Due

Yeah, the editors should nip this article out. It is nutz to think that book value applies to a company with so little visibility. Oh, yeah I also forgot that states are starting to sell muni bonds without insurance...
1. MBIA over leveraged
2. MBIA has new competition
3. MBIA is in a market place where they are being shown to be unnecessary (muni bonds without insurance)
4. MBIA has one rating agency that doesn't lie about their rating (fitch, who downgraded them)

1+2+3+4= dead

have some fun and buy some puts a year out.
Ryan