Thursday, January 24, 2008

Egan Jones: Monolines Need $200 Billion in Capital

From The Times: Mortgage bond insurers 'need $200bn boost'
America's biggest mortgage bond insurers collectively need a $200 billion (£101 billion) capital injection if they are to maintain their key AAA credit ratings, a figure that dwarfs a plan by New York regulators to put together a capital infusion of up to $15 billion ... Sean Egan of Egan Jones Ratings Company, said.
The next few weeks should be very interesting for the monoline insurers.