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Loan Modification

: Mortgage Lender Implode-o-Meter

Ambac Does Not Make November 1 Coupon Payment, To File Bankruptcy Within A Month If Unable To Raise Additional Capital

By Implode-Explode Heavy Industries

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So much for bond insurer bailouts. We told ya so. This is very interesting because now Ambac raising additional capital is basically contingent on what the market thinks of their most promising plans to raise money: suing lenders for misrepresentation on the real-estate bonds they insured in the bubble.

Full post as published by Mortgage Lender Implode-o-Meter on November 01, 2010 (boomark / email).

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