Bond Rating Agencies Near Collapse

Tole Ja

Here too.

Today: Bond insurers ready to fold. This is the most serious threat to the world economies.

UBS Reports Record Loss After $14 Billion Writedown

Financial Guaranty Insurance Co., the world's fourth-largest bond insurer, lost its AAA credit rating at Fitch Ratings after missing a deadline to raise capital.

MBIA Inc. and Ambac Financial Group Inc., the two largest bond insurers, may each lose $11.6 billion on guarantees of residential mortgage securities and some collateralized debt obligations, according to hedge fund manager William Ackman.