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To: orkrious who wrote (203643)	11/8/2002 10:07:13 PM
From: orkrious	Read Replies (1) \| Respond to of 436258

this makes me feel even better about my MBI short <g> Well, we no longer ponder how CDO issuance could remain so strong despite heightened Credit quality issues: MBIA (along with Ambac) is aggressively insuring CDO structures (turning water into wine). Year to date, MBIA has written insurance on $28.9 billion of CDO exposure. This compares to $13.6 billion last year, almost doubling total CDO exposure to $65.9 billion (MBIA ended 1999 with total CDO exposure of $2.3 billion). MBIA concluded the quarter with a “Global Structured Finance” “Insured Portfolio” of $167 billion. In addition to the CDO exposure, the company has insured about $35 billion of asset-backs (mostly Credit card and auto loan-backed), $21 billion of home equity loans, about $20 billion of other mortgage-backed, almost $20 billion “Pooled Corp. Obligations & Other, and $5 billion of other “Financial Risk.”