johnhaskell

MBIA Reinsures $184 Billion from FGIC’s Public Finance Book

Buffett and MBIA aren't really competing- Buffett has a AAA rating in contrast to MBIA's "off brand" reinsurance.

Whitman's Q2 Letter and Disclosure Requirements

there is no need for "bears" to discourage anyone from doing business with Ambac or MBIA. No one in his right mind would buy insurance from either company, as they obviously can't pay claims (despite their loud denials).

As for "bear" attempts to strip these zombie companies of their AAA ratings, that is called "sound regulation," not a "bear raid."

I wonder if Whitman would have made these bets 20 years ago.