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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (52362)	9/12/2013 10:42:04 AM
From: deeno	Read Replies (1) of 78763

AMBAC used to be one of the biggest insurers of muni bonds. I wondered how BK and emerging from BK would affect thier legacy obligations to past muni backing? I was guessing the income they get would be those legacy backings, but were they able to cxl obligations on deals gone bad, or have they been paying all along? Also i see very little in the way of writing new business, so how does one see growth? Perhaps muni insurance is no longer a significant product line? Should an entity like PR or CA default no one survives in this industry anyway so I think that a TBTF moniker might apply. If you held a bond backed by AMBAC, how safe would you feel based on your research?

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