MBIA Crash & Burn

Author:
Publish date:
Updated on

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."

Related