Just when you thought it couldn’t get worse at MBIA, it gets worse. After losing half its market cap in the past few months, MBIA looked to many like a good buy. There are a lot fewer members of that club of “many” today. Shares are down nearly 9% right now, apparently on word of a negative report from Moody’s.
Moody is saying: “with regard to MBIA, additional analysis of its direct RMBS portfolio leads Moody’s to believe the guarantor is at greater risk of exhibiting a capital shortfall than previously communicated; we now consider this somewhat likely.”
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ah Moody’s, they’re so reliable
rating agencies kinda actually DECIDE whether or not these companies need to hold more capital, so in these cases, yes they are reliable
With regard to MBIA, additional enjoyment of Mike’s Hard Lemonade leads my ass to believe the guarantor is at the same ridiculous risk of exhibiting a capital shortfall that I previously communicated in my 66-page report entitled, “Is MBIA Triple-A?” We maintain our price target of Fucked.
bout the only thing these effers will be wrapping now is my dillz in a box
also, ran into crabhands in the elevator today – you will be genuinely disaspointed, as i was, to hear that he actually does have people fingers and opposable thumbs
sux
i guess moodys finally got a subscription to grants ir observer
never heard that before huh?
who cares about mortgages or iran?? I wanna see naked pics of maria
Do you mean to tell me that insuring loans made to people who have no money, and no desire to repay the loan, is an unprofitable business plan?
Who would have guessed?