Bond Insurer Plan Key to Market Calm
Bond Insurer Plan Key to Market Calm
Saturday January 26, 5:13 am ET
By Stephen Bernard, AP Business Writer
Bond Insurer Bailout Could Rally Markets, but Collapse Could Endanger Municipal Construction
NEW YORK (AP) -- If the struggling bond market is saved by a potential bailout, turbulence in the stock market could ease -- but without a bailout, cities across the country could have difficulty building everything from sewers to schools.
......
Shares of Ambac Financial Group Inc. which fell as low as $4.50 in trading on Jan. 17, are now at $11.55. MBIA Inc. shares, which bottomed out at $6.75, now trade at $13.80. Even Security Capital Assurance Ltd., which fell as low as $1.50 on Jan. 17, is trading at $3.05.
Saturday January 26, 5:13 am ET
By Stephen Bernard, AP Business Writer
Bond Insurer Bailout Could Rally Markets, but Collapse Could Endanger Municipal Construction
NEW YORK (AP) -- If the struggling bond market is saved by a potential bailout, turbulence in the stock market could ease -- but without a bailout, cities across the country could have difficulty building everything from sewers to schools.
......
Shares of Ambac Financial Group Inc. which fell as low as $4.50 in trading on Jan. 17, are now at $11.55. MBIA Inc. shares, which bottomed out at $6.75, now trade at $13.80. Even Security Capital Assurance Ltd., which fell as low as $1.50 on Jan. 17, is trading at $3.05.
posted by Blue @ 10:56 AM
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