ABK and MBI are still AAA credit rated yet Alcoa was downgraded from A- to BBB+ today by Fitch. Both companies have been "given" the highest credit rating possible but in actuality should be bankrupt. The only thing keeping both companies alive is their ability to dilute shares at a staggering rate. I am guessing ABK will be announcing another fund raising round to account for their expected Q2 losses. By the time this is over their shares will be worth .01 and they will still hold AAA credit ratings. Absurd..... Who can you trust anymore?
Correction... The only thing keeping them alive is Paulsen holding the ratings agencies at gun point.