tmcal:
"S&P Ratings--I find the timing of the affirmation of the MBIA and Ambac AAA ratings as unusual. I have not seen an announcement confirming a bank bailout of Ambac, so why the rush?"
Especially since the new CEO of MBI, Brown, has not signed off on 2007 earnings due to some lingering questions...
The beauty of all of it is that unlike Enron -- they're not even trying to hide the fact that this all just outright collusion and fraud of the highest order.
Other than the lingering $600 billion in CDOs that need to be written off, a cut dividend, and possibly restating last year's "earnings" -- this is a triple-A company.
Good thing they don't have any real problems, LOL.
The last $1 billion injection a few weeks ago was 96 million shares at 12.15 a share. Right now -- those investors have about a $200 million profit after Monday's 20% surge. (They were at breakeven this morning.) You think they'll lock it in or let it ride like BofA investors with Countrywide?