(no subject)
I need to become friends with an economist. I was just catching up with my flist here and I came across one post with a link that has left me wondering what's going on. In a nutshell, these 2 bond insurers can't afford to pay their claims. From what I am getting from this story, these 2 companies are keeping the mortgage companies afloat. If these companies go under (which from the report, it looks likely) then it sounds like that will bring down the entire mortgage industry in flames.
I wish I knew people who were interested in talking about this with. My parents possibly, but the housing crisis is the last thing they want to discuss. According to the NYSE site,
Ambec is down by 54% and MBIA is down by 22%.
I would turn on CNBC to see what's going on, but Evan is watching something on Cartoon Network. I would normally make him watch it in our bedroom, but I don't want him to wake up Eli.
I wish I knew people who were interested in talking about this with. My parents possibly, but the housing crisis is the last thing they want to discuss. According to the NYSE site,
Ambec is down by 54% and MBIA is down by 22%.
I would turn on CNBC to see what's going on, but Evan is watching something on Cartoon Network. I would normally make him watch it in our bedroom, but I don't want him to wake up Eli.