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Wednesday, December 19, 2007 8:42:25 AM
closed yesterday at .31 and now trading .40 x .45 @ 8:45 am
Banks in talks to bail out ACA Capital: report
By Steve Goldstein
Last update: 6:11 a.m. EST Dec. 19, 2007
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LONDON (MarketWatch) -- Banks including Merrill Lynch (MER:
Merrill Lynch & Co., Inc
ACAH, , ) , The New York Times reported, citing two people familiar with the matter. ACA has guaranteed $26 billion in mortgage securities, and the insurer's woes could force the banks to take on billions in losses they had insured against, the report said. Standard & Poor's has warned ACA that it may lose its A rating. It is unclear how much capital it would take to shore up ACA, the report added, and another solution the banks are discussing would relieve ACA of having to post collateral against its insurance contracts if the company is downgraded.
The above is all in my opinion and should not be considered a reason to buy, sell, short or hold a stock.
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