What ever happened to the AMBAC funding

Discussion in 'Trading' started by Aaron Copland, Feb 27, 2008.

  1. ABK and the team of banks agreed on a plan and all was set, they were ready to go through with the 2.5 billion dollar deal UNTIL the rating agencies said that its not enough and that they need 3 billion to get a AAA rating. so now they're working on that extra 500 million and it ended up taking a bit longer than expected. It will still go through though. My bet is Tuesday afternoon.

    The banks probably will come up with the extra money because they have pressure on them now and they know the market will drop if they dont go through with the plan.

    I think thats why there was that little rumor that "cerberus and two other banks" joined in the bailout plan, because they needed 0.5 billion more.
     
    #11     Feb 29, 2008
  2. You need to turn CNBC on. They had the whole story. LOL.

    OldTrader
     
    #12     Feb 29, 2008