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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Peter V who wrote (108438)	3/10/2008 2:01:58 PM
From: Peter V	Read Replies (2) of 306849

1:39 PM Fitch asks if MBIA seeking equal S&P, Moody's concessions Marketwatch 1:36 PM Fitch: MBIA requested destruction of key portfolio info Marketwatch Not sure why this tidbit hasn't cratered MBI even further. =========================================== Fitch calls MBIA info destruction request 'disingenuous' Marketwatch - March 10, 2008 1:58 PM ET SAN FRANCISCO (MarketWatch) -- Stephen Joynt, the chief executive of Fitch Ratings, told MBIA Inc. on Monday it seemed "disingenuous at best" that the bond insurer asked the rating agency by email to destroy non-public information while telling the public it would work with Fitch to keep a AAA rating. On Friday, MBIA asked Fitch Ratings to withdraw insurer financial strength ratings while retaining outstanding debt obligation ratings. Joynt also told MBIA it was "considering" MBIA's request to withdraw IFS ratings, and that it was willing to waive rating fees. However, Joynt asked MBIA if it was also seeking equal concessions from the other two debt rating agencies, Standard & Poor's and Moody's.

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