CREDIT CRASH
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Fitch to cut ratings on a number residential mortgage-backed securities insured by MBIA Inc, Ambac Assurance Corp, FGIC Corporation and Security
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Largest downgrade of US companies to junk since 2003. Predicts rise in US company bond defaults to 4.7 percent in 2008.
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Credit crash is a social news site for the credit markets
Nothing surprising here, plenty more losses to come for financials....Ambac covers $556bn in municipal and asset-backed securities, hardly...I always check credit ratings before I make a decision...This won't tackle the lack of deals or reluctance of lenders to refinance...At least Bernanke was clear about what they believed - even if they're...Fed sees more risk to the downside BUT doesn't realize that there's enough...Writedowns are MORE than $18 billion. In the release they reveal U.S....Dont see how they were all owned by the "elites", anyway dont...