11/8/10

would ya look at that?

it appears Ambac, a bond insurance company has recntly filed for bankruptcy. i came across this reading a few news articles online. and according to the new york times "In its Chapter 11 petition, Ambac listed several groups of bondholders — all represented by the Bank of New York Mellon as trustee — as its largest creditors, with a total of $1.6 billion in claims." now thats something to think about, huge companies having to file for bankruptcy

40 comments:

  1. wow never heard of them, how did they have so much money

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  2. I was short these mothers in '07. Damnit I covered.

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  3. Seriously, are insurance companies on the whole supposed to file for bankruptcy?

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  4. Makes you wonder if these big companies fall to their knees, what would happen to the smaller ones? Would there be more opportunities or a similar decline..

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  5. wow, it seems like a new company files everyday, and it gets in the news

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  6. Another day, another major company.

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  7. i feel bad with people insured by them

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  8. Tssk Tssk they needed better management.

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  9. Yep as Seion said, it's common by this time.

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  10. Good post! Looking forward to reading you next one

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  11. yup and everyone associated with that company is now screwed

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  12. that's a unique perspective on it

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  13. that's great, I can't wait for more

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