Forbes is reporting "Ambac Is a Downtrend"
In a silly move Ambac is trying to raise capital in the markets upto $2.3b and similarly Citi is trying to sale its bonds for $3b which it is underwriting itself. Most investors are avoiding these 2 companies like these are land-mines that will explode if you step on them.
Also on CNBC (The prime hype-hoopla channel) Olstein says Citi shares would double in 2 years. Looks like its just a ploy to at least recover some of his 2x investments in 2007. They know they are holding a explosive waiting to go bust. Its amzing how people appear on CNBC at the "right time" to say the "right things". CNBC amazes and amuses me :-)
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