Dealbreaker has an interesting post today regarding bond insurance and how average retail investors, who own most of the municipal bonds out there, may be prone to thinking that this insurance means more than it actually does.
Monoline Insurance Company List:
MBIA (NYSE: MBI)
Ambak Financial (NYSE: ABK)
XL Financial Assurance Ltd (NYSE: SCA)
MGIC Investment Corp (NYSE: MTG)
Radian Asset Assurance (NYSE: RDN)
Financial Security Assurance Holdings (NYSE: FSF)
CIFG
Financial Guaranty Insurance Company
Berkshire Hathaway (NYSE: BRK)
Oh boy, you know the poop has hit the fan when the ole gipper steps in to save a company. Love it. Joseph Brown storms in to monoline insurer MBIA (NYSE: MBI) stating confidently that he sees no long term risk to the use of bond insurance, though the industry faces troubled waters ahead. He also denied reports that he would be splitting the company into two parts by siphoning off the municipal bonds end to maintain its AAA-rating.
Brown was asked by the board to step in for Gary Dunton who resigned recently.
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