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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Giordano Bruno who wrote (352908)	1/9/2008 8:54:36 AM
From: ldo79	Read Replies (1) of 436258

Yup - last 3 words are telling..... MBIA slashes dividend to preserve capital By Greg Morcroft Last update: 8:26 a.m. EST Jan. 9, 2008 NEW YORK (MarketWatch) -- Bond insurer MBIA Corp (MBI) said Wednesday it is cutting its quarterly dividend to 13 cents from 34 cents as part of a plan to preserve capital. The company said the move would save it about $80 million a year. The firm also said it expects that it will incur a total of $737 million in loss and loss adjustment expenses for the fourth quarter. "We are committed to the successful implementation of this comprehensive plan to significantly strengthen our capital position and secure our Triple-A ratings without qualification," CEO Gary Dunston said in a press release Wednesday. End of Story

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