TN hick

MBIA's GIC Exposure Could Trigger a Liquidity Crisis

any who else [ABK, ???] have material quantities of GIC's on their books?

A Common Sense Look at MBIA

"Take a bunch of stocks that traded around $100 and are now hovering below $10, and a government guarantee immediately rockets them up to $50. Not the kind of risk I want as a short, and the options were already pricing in a quick trip to zero."

exactly why I have both calls and puts; one is going to win out over the other; I'm betting the appreciation of the winner will cover the depreciation of the loser; just one person's approach

what I don't like is the 3-5 day ultimatum