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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Metcalf who wrote (72340)12/14/2007 8:06:19 PM
From: Sea Otter  Read Replies (2) | Respond to of 116555
 
AG was on NPR tonight.

One comment of his that caught my attention (I paraphrase loosely as I can't find any link): "Bubbles are due to basic human nature. There's little that government or the financial system can do to prevent them."

One gets the strong sense that AG's worried things are going to come tumbling down in a big way over the coming year, and he's going to get pinned with the blame. So he's out there preemptively, defending his legacy.



To: John Metcalf who wrote (72340)12/15/2007 12:20:22 AM
From: mishedlo  Respond to of 116555
 
Ambac Blows It ... Again
globaleconomicanalysis.blogspot.com
Ambac took out insurance on $29 billion in securities it guarantees. However, reinsurance on $29 billion out of $556 billion is unlikely to do anything but waste money. Right now this it is too little, too late, and on the wrong stuff. It certainly is not shareholder-friendly. At best, all it will do is dilute future earnings.
Mish


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