Syncora Holdings Ltd. (fka SYCRF)

[brandemarcus]

Looking at the slides, I see slightly higher numbers. The question is what do you consider the bonds they have bought of about 100 million. Are they really just actually "paying themselves" at the end.
Whether it's 100 million or 200 million it's 20% of net worth and even less than that of claims paying resources. That's assuming 0 recovery or Puerto Rico falls into the Ocean.