InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
AI Subscribe Login/Register account icon
S&P 500
5,893.62
(
0.39%
)
US TECH 100
19,996.80
(
0.67%
)
Dow Jones
43,389.60
(
-0.13%
)
Brent Oil
72.93
(
-0.01%
)
Bitcoin
91,691.04
(
1.26%
)
Post# of 254
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

up-down

Send PM Follow Ignore
Followers 107
Posts 11084
Boards Moderated 8
Alias Born 07/16/2005

up-down

Re: up-down post# 110

Tuesday, 01/29/2008 2:30:43 PM

Tuesday, January 29, 2008 2:30:43 PM

Post# of 254
BofA CEO: Bond Insurer Meltdown a Systemic Risk

Tue Jan 29, 2008 1:02pm EST

NEW YORK (Reuters) - Any meltdown of a large bond insurer would pose a systemic risk, Bank of America Corp (BAC) Chief Executive Ken Lewis said at a conference on Tuesday.

The bond insurers, which guarantee more then $2 trillion of securities and are expected to make big payouts on bonds linked to subprime mortgages, are struggling to raise capital and keep their top credit ratings.

"A big meltdown would pose systemic risk," Lewis said, adding that Bank of America is now giving less weight to insurance when figuring out the value of insured bonds.

http://www.reuters.com/article/bondsNews/idUSWEN363020080129

To see charts of the bond holders see the bottom of post... #msg-26226667



Solar Stocks #board-11148
Peak Oil #board-6609
Coal #board-2809
Real Estate Bubble #board-7285
Lender Implosion #board-10076
HomeBuilders #board-1680
Your Economy #board-1948
Global Warming #board-11877

Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up