Author: 123jump.com Staff
123jump.com
Last Update: 4:53 PM EDT May 13 2008
MBIA and Ambac fell after the bond rating agency Moodys raised concerns on the capital adequacy at the insurance companies. MBIA, only a day ago asserted at the time of earnings release that it does not need additional capital and has a significantly higher book value than GAPP accounting would suggest. Moodys suggested that fallng home values and continued decline in loans values in the secondary market may force the insurance companies to raise more capital.
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