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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (4463)	2/22/2008 4:18:30 PM
From: Paul Kern	Respond to of 71475

Ambac Bailout Plan Could Be Announced Mon Or Tues - CNBC Last update: 2/22/2008 3:54:18 PM NEW YORK (Dow Jones)--The New York State Insurance Department's plan to bail out troubled bond insurer Ambac Financial Group Inc. (ABK) could be announced Monday or Tuesday, said CNBC's Charlie Gasparino, citing conversations with "bankers working on the deal." Gasparino said that "significant progress" has been made on the recapitalization plan to save the bond insurer's AAA rating. On Wednesday, CNBC reported that William Ackman, founder of Pershing Square Capital Management, presented a plan Tuesday night to New York State Insurance Department Superintendent Eric Dinallo not to split up bond insurers. Splitting bond insurers into two sectors - one focused on lower-risk municipal bonds and another to handle higher-risk collateralized debt obligations - allows the shareholders of the lower-risk holding company to benefit while holders of the CDOs suffer. Shares of Ambac recently traded up $1.10, or 12%, at $10.31. - Brett Philbin, Dow Jones Newswires; 201-938-5393; brett.philbin@dowjones.com (END) Dow Jones Newswires February 22, 2008 15:54 ET (20:54 GMT)