crashof2008

Ambac, MBIA: The Rating Shoes Drop

This is absurd. Did it ever occur to you that the historical volatility assumptions used in modeling the "value" of MBI's CDOs are completely irrational? Do you even know anything about the whole historical vs. implied volatility valuation debates for derivatives?

Duh.

Maybe if you had taken more than elementary algebra you would understand that MBI is truly, irrevocably bankrupt.

See you in January, when FASB 163 takes full force.