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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: reaper who wrote (152703)	2/21/2002 5:10:39 PM
From: LLCF	Read Replies (1) \| Respond to of 436258

< MBIA is actually more of an asset-backed insurer than a municipal insurer. I think their par insured of ABS is about 1.5x their level in public finance, and that part of their business is growing while the public finance side is modestly shrinking.> Thanks.... even more risky I suppose! And thanks for KMX... got that one written down. <can you explain to me how it is that the ABS market thinks that it is "insured" when (i) the risks are not really insurable, as they are correlated; and (ii) 37% of the market is insured by a company with only a shade over $4 billion in capital?> UFB... yea, they'll get bailed out and turn into a repo man :) Lot's of luck selling all the stuff backing THAT paper. DAK