Ambac Financial Group Inc (AMBC)

[ilenes]

Unfortunately, I have no idea what their intentions are now. My meeting with them was over a year ago. At the time, they insisted on using loss reserve calculations that didn't reflect improving market conditions. Those should change and return millions to the estate. The foreign subs were a convenient place to hide all sorts of assets. Perhaps the IRS issue will force them to come clean. I do believe that their use of complicated accounting and numerous subs was purposeful in hiding money and attempting to defraud shareholders.

Ilene