Relevant:
- Ambac Financial Group Files for Chapter 11 Bankruptcy
- Ambac Rescue Involves Others Besides Exposed Banks
- Ambac sees quarterly losses of roughly $1.3 bln
- Ambac Slumps As Company May Seek Bankruptcy Protection, Enters "Rehabilitation" Of Segregated Account
- Ambac Posts Loss on CDO Writedowns, New Business Drop
2010-03-25 — reuters.com
"State regulators are taking control of some of U.S. bond insurer Ambac Financial Group Inc's (ABK.N) worst assets, the company said on Thursday, a move that affects some $64 billion of complex debt securities...
Ambac's capital levels have become severely strained by the mortgage crisis, which forced it to make big payouts on a number of complicated repackaged mortgage bonds and other instruments."
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