Ambac Reverses Course, Decides Not to Split

``Ambac, the troubled bond insurer, has decided against splitting in two as it completes a $2bn-$3bn recapitalisation, insiders said... Eight banks, led by Citigroup and UBS, which between them bought the most guarantees from Ambac, are together preparing to inject $2bn or more into the monoline, which has been racing to come up with fresh capital to avoid a sharp cut in its triple-A rating.'' -- Someone is still going to lose a lot of money.