Global Economic Crisis Unfolding
As I am writing this, there is an economic bloodbath in the Asian stock markets as a result of the plunge yesterday in the US markets. One of the most troubling developments is the impending demise of the two main Bond Insurers, Ambac and MBIA. These two companies underwrite a large number of corporate and municipal bonds in the US market.
Just last Friday, Ambac lost its AAA rating, and it is expected that there will be further downward adjustments. In short, this will mean a loss of about $45 trillion in value in the credit derivative market in the coming days. Read the story here and do what you can to protect yourself from the coming collapse.
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May 30th, 2008 at 8:04 pm
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June 1st, 2008 at 3:01 am
[...] These two companies underwrite a large number of corporate and municipal bonds in the US market.http://www.humanz.org/2008/01/22/global-econimic-crisis-unfolding/MunicipalBonds.com Learning CenterMunicipalBonds.com is a non-aligned public service information [...]
June 1st, 2008 at 7:40 am
[...] developments is the impending demise of the two main Bond Insurers, Ambac and MBIA. These twohttp://www.humanz.org/2008/01/22/global-econimic-crisis-unfolding/Municipal Market At-A-GlanceAbout municipal Bonds: Munis often represent investments in projects [...]