 |
 |
|
This news release has been expired
|
|
Downgrades of Financial Guarantors: Monoline Insurers
Chicago, IL
Sunday, February 10, 2008
Video Clip: Click to Watch
Financial Guarantors MBIA, Ambac and FBIC are overdue for downgrades.
Financial guarantors normally do not mark-to-market guarantees, any products that must be marked to market – require mark-to-market treatment.
Janet Tavakoli, president of Tavakoli Structured Finance Inc., talked with Bloomberg Television's Brian Sullivan about downgrades of financial guarantors noting that MBIA, Ambac and FGIC do not currently merit "Triple-A" ratings. Absent a bailout, it appears the financial guarantors will be downgraded.
Ms. Tavakoli said it is amazing that there has not been major bloodletting among top management at the rating agencies: Moody's, Standard & Poor's, and Fitch.
Financial guarantors normally do not mark-to-market guarantees, any products that must be marked to market – require mark-to-market treatment.
Janet Tavakoli, president of Tavakoli Structured Finance Inc., talked with Bloomberg Television's Brian Sullivan about downgrades of financial guarantors noting that MBIA, Ambac and FGIC do not currently merit "Triple-A" ratings. Absent a bailout, it appears the financial guarantors will be downgraded.
Ms. Tavakoli said it is amazing that there has not been major bloodletting among top management at the rating agencies: Moody's, Standard & Poor's, and Fitch.
Janet Tavakoli
President
Tavakoli Structured Finance, Inc.
Chicago, IL
312-540-0243