An Article With More Detailed Info Re Ambac Bailout Plan
An article with more detailed info re Ambac bailout plan, see http://www.nytimes.com/2008/02/23/business/23bond.html.
Here's part of the article:
"Under Ambac’s plan, one part of the company would guarantee relatively safe municipal bonds, while the other would insure more complex securities backed by mortgages and other debt. In all, Ambac guarantees about $556.2 billion of securities.
The company also hopes to raise $2.5 billion through a rights offering to its existing shareholders; the sale will be backed by banks. Ambac also plans to raise roughly $500 million in new debt, according to the person who has seen the plan, who was not authorized to talk about it."
....... http://www.JoeFRocks.com/ .
Here's part of the article:
"Under Ambac’s plan, one part of the company would guarantee relatively safe municipal bonds, while the other would insure more complex securities backed by mortgages and other debt. In all, Ambac guarantees about $556.2 billion of securities.
The company also hopes to raise $2.5 billion through a rights offering to its existing shareholders; the sale will be backed by banks. Ambac also plans to raise roughly $500 million in new debt, according to the person who has seen the plan, who was not authorized to talk about it."
....... http://www.JoeFRocks.com/ .
posted by Joe Ferrazzano at
1:04 PM
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