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Re: Bill Tarson post# 10000

Monday, 04/29/2013 1:40:15 PM

Monday, April 29, 2013 1:40:15 PM

Post# of 10087
http://www.cnbc.com/id/100684909


Once the second-largest U.S. bond insurer, Ambac suffered big losses after it strayed from insuring municipal bonds and began guaranteeing bonds backed by home loans.


With the approval of the IRS settlement, Ambac expects to emerge on Wednesday after the company finalizes documents, the company's attorney, Peter Ivanick of Hogan Lovells, said at Monday's court hearing.

When Ambac emerges from bankruptcy, the company's current stock will be canceled and creditors will be issued new shares.

“Hey, don’t worry; don’t be afraid, ever. Because this is just a ride…. And we can change it any time we want. It’s only a choice. No effort, no work, no job, no savings of money. Just a simple choice, right now, between FEAR and LOVE.” - Bill Hicks

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  • 1D
  • 1M
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  • 6M
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  • 5Y
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