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CORRECT: Ambac Bond Claims Not On Countrywide Loans
Last Update: 5/9/2008 2:58:20 PM
Ambac Financial Group Inc. (ABK) had examined two transactions that contained
loans originated by Bear Stearns Cos. (BSC) and First Franklin Corp. (FFHS).

Possibly Related Posts:

US debt clock runs out of digits —- BBCNews
US to buy stake in banks; first since Depression
A Great 2008-2009 Depression
the fear [...]

NEW YORK (Dow Jones)–Bond insurers Ambac Financial Group Inc. (ABK) and MBIA
Inc. (MBI) each face about $12 billion in total losses on mortgaged-backed
securities and will need to raise more capital to keep their AAA insurer ratings,
Goldman Sachs told clients Thursday.
Ambac’s stock fell 43% to $3.46 Wednesday after it stunned investors with a $1.66
billion net loss, [...]

Shares of Ambac Financial Group Inc. (ABK) fell 42.6% Wednesday to close at an
all-time low of $3.46 as the company revealed subprime losses reaching ever more
deeply into its bond guarantee and credit derivatives businesses.
During its earnings conference call Wednesday, Michael Callen, Ambac’s chief
executive, said he saw continued deterioration and admitted the market has
performed worse than [...]

Holding shares of CROX and preparing to sell off shares of EPIC and GFIG
Preparing to buy shares of ABK and OMCL when sell-off pressure settles. (target the day after tomorrow)
Holding cash for down market…. preparing to pick up the piece
Sometimes, do nothing and watch is what a sophisticated investor would do in unstable market like [...]

Ambac Financial Group (ABK) is on track to meet Moody’s Investors Service’s AAA
target capital ratio by the end of the second quarter, the company’s chief
executive said Wednesday.
Bond insurer Ambac relies on a strong credit rating in order to win business. The
current credit crisis has put pressure on several bond insurers’ ratings,
including Ambac, which retains the [...]

Ambac Financial Group Inc. (ABK) said it has worked with clients to help them
lower their borrowing costs on auction- and variable-rate debt.
The New York bond insurer said since January, more than $700 million in
conversions to Ambac-wrapped fixed-rate deals have been approved.
In addition, Ambac said it has been “active” in exploring and implementing
various amendments to provide [...]

Ambac Implements New SEC Rule for Internet Posting of Proxy Materials
NEW YORK, Apr 21, 2008 (BUSINESS WIRE) — Ambac Financial Group, Inc. (ABK)
(Ambac) today began mailing the “Notice of Internet Availability of Proxy
Materials” for its 2008 Annual Meeting of Stockholders under the new Notice and
Access rule of the U.S. Securities and Exchange Commission (”SEC”).
Ambac is [...]

Standard & Poor’s assigned a “AAA” rating to Berkshire Hathaway Inc.’s (BRKA)
municipal bond insurance unit, standing in stark contrast to the deterioration of
other bond insurer ratings in recent months.
“The rating of (Berkshire Hathaway Assurance Corp.) is based on its extremely
strong competitive position, insurance and reinsurance capitalization, and
financial flexibility,” S&P wrote.
Berkshire Chairman and Chief Executive Warren [...]

Ambac Financial Group, Inc. Conference Call to Discuss First Quarter Earnings Set
for April 23, 2008 at 11 A.M. Eastern
NEW YORK, Apr 11, 2008 (BUSINESS WIRE) — Ambac Financial Group, Inc. (ABK)
announced that it will host a conference call for investors on April 23 at 11
a.m. Eastern to discuss first quarter 2008 earnings which are scheduled [...]

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