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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (29807)	1/22/2008 3:10:24 PM
From: Madharry	Read Replies (1) of 78744

I listened to some of the abk conference call today. It sounded like they were definitely going to try stay in business in one form or another. I didnt understand a lot of the conference call but there were some pretty good questions and i was impressed with some of the candor in which the questions were responded to. When asked why the CEO responded abruptedly the gist of it was that the CEO felt strongly that they should raise more capital via Capital Notes rather than dilluting equity . When the board took the opposite side he felt that he had no choice but to resign. But apparently he continues to be in daily contact with management. Given what has taken place in the equity markets I seriously doubt that the government will let any of the bond insurers default. Just like I dont see them letting CFC go out of business, leaving the federal loan board to collect $50Billion of mortgages. if I knew for sure that BAC cant renegotiate the price downard i would be a buyer of cfc at these levels.

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