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Non-Tech : Bill Wexler's Trading Cabana

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To: RockyBalboa who wrote (3595)	6/4/2008 10:51:58 PM
From: The Reaper	Read Replies (1) of 6370

Here's a good one from MBIA today.. "We disagree with Moody's decision today. When Moody's affirmed our rating with a negative outlook in February, we believed that it would refrain for six to 12 months from taking additional ratings actions unless the environment or MBIA's position changed materially. Since then, there have been no material adverse changes in the environment, and we believe our capital position has improved. In other words, Moody's is finally admitting that MBIA was not AAA in February or probably before that, if they want to downgrade MBIA now with an "improved capital position". If I was a smart attorney, LOL, I'd be filing lawsuits left and right against MBIA and AMBAC.

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