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techcharter

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techcharter

Re: techcharter post# 31772

Tuesday, 02/12/2008 9:56:00 PM

Tuesday, February 12, 2008 9:56:00 PM

Post# of 51804
Bond Insurers Plunged.

The opening spike was a great time to short ABK and MBI. They both closed down 15% by the end of the day. Buffet threw a party for them, but they turned out to be rude guests.

The selling pressure should accelerate the rest of the week. Banks and other financials will join in as the subprime loans they hold lose their insurability. Buffet won't touch the corporate paper or mortgages.
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