Crocodilian

MBIA, Ambac and GICs: The Other View

Here's one more ABK puzzle: one of their largest and most outspoken holders is part of Evercore, a well known LBO firm. If there were value in ABK that is not presently recognized in the market, one would have thought that an LBO shop with a big stake in ABK equity would have been able to find a cash buyer for the company . . . that hasn't happened though.