PMI is up because they're closing offices and said they may now have a bit more cash to pay for the hook waiting for them in the homeland (like a quarter of FNM business is insured with them?)
ABK and MBI rally HARD in AUGUST 2008!! AUGUST 2008!!! People what is this? Some kind of a prank? What do you do when you have a paper will only pay interest for about, err, 3 more months? Yeah, you pay $2 for it. ABK paid $100 for those with what capital again, like $10? So what will be left of even the SENIOR bond of that company? And this is what the "investors" are thinking about the equity value this evening?
The GSE marked to market about $2B of the combined $300B of Subprime/Alt-A securities? Really? You want my subprime bond for $99.33? Do you want fries with that?
I am too old for this shit ... :D
The right enemy
1 year ago