Thursday, December 20, 2007

MBIA details huge mortgage exposure, shares collapse (Reuters)



Foreclosure and for sale signs are seen in Antioch, California November 27, 2007. MBIA Inc, the world's largest bond insurer, said it has exposure to $30.6 billion in complex mortgage securities that it insures, an amount that eclipses its entire net worth. (Erin Siegal/Reuters)Reuters - MBIA Inc, the world's largest bond
insurer, said it had guaranteed $8.1 billion of the riskiest
mortgage securities, imperiling its entire net worth and
sending its shares plunging 26 percent.




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