THE PARADIGM SHIFT

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abk on bottom watch

down 34% here...

Shares of Ambac Financial (NYSE: ABK) have tumbled more than 20% today following the filing of its Form 10-Q with the SEC last night. In the first part of the filing, just after the financial statements, Ambac warns that if it is unable to execute certain strategies moving forward, "it will consider seeking bankruptcy protection without agreement concerning a plan of reorganization with major creditor groups."