Well, there was an announcement from Merrill about some things: Selling CDO AssetsSettling monoline issuesSelling equity Now, while all these are important, #2 is better covered elsewhere as I think reliance on insurers was stupid to begin with and #3 is what it is… best left for analyst reports for [...]
Japan's largest brokerage has booked provisions against bond insurers hit by the global credit crisis and written down its investment in a US asset management firm[...]
Security Capital Assurance, a bond insurer that has guaranteed $155bn of bonds, has averted insolvency after XL Capital, the Bermuda-based insurance company, agreed to pay $1.78bn to SCA and Merrill Lynch agreed to cancel $3.5bn worth of CDO hedges in exchange for $500m. Shares in XL, which in February wrote [...]
