http://uk.reuters.com/article/bankingFinan...29?rpc=401&
Ambac bailout hits significant snag: report
Fri Feb 29, 2008 1:22pm GMT

NEW YORK (Reuters) - An effort to arrange a rescue of trouble bond insurer Ambac Financial Group Inc has hit a significant snag over the amount of capital the banks involved would have to inject into the company, CNBC television reported on Friday.

The snag involves a dispute with the ratings agencies whose verdict is crucial to Ambac retaining its triple A debt rating, CNBC said, adding that the agencies are calling for the banks to inject more capital given the structure they are proposing for the business.

That big red thing looks a bit like one of the Tweenies. Or is it my eyesight

Anyway, so the AFC will go bust?

CNBC are a bunch of old women gossiping all day.

Impressive Cgnao.
Do you collect any other artwork, other than Enola Gay memorabilia?

They will pull this deal out of the bag to the market's great relief (short term) and to much fanfare. This snag is due to the agencies having already maintained their ratings which means they don't have a gun to their heads to do a (stupid) deal.

The real snag is thinking a small capital injection will solve anything in the long run.

It Jake!



Do I get a prize?

He's partial to the works of Robert Mapplethorpe I hear.

no, the chap who broke the news (hours ago btw) charlie gasparino, breaks a lot of the news that we discuss on this site - hours/days before we talk about it.


rick santelli's the main man though.

...but like you say the rest are very slow, or nutters (JC).

So that will be Fed in via 'the banks' then eh?