New monoline fears after 'disappointing' Q2 results
Mixed Q2 results for monoline insurers have raised fresh worries about their prospects.
Ambac and Assured Guaranty have announced huge losses, and, although MBIA recorded a gain, analysts predict the surprise result is only a temporary reprieve.
Ambac suffered a second-quarter net loss of $2.4 billion, due mainly to losses on its residential mortgage-backed securitisation (RMBS) insurance business and impairment losses in its investment portfolios related to RMBS and tax-exempt municipal
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