The bond insurer problem must be fixed, or else it could become a "financial tsunami" that wreaks havoc on the broader economy, New York Governor Eliot Spitzer is due to tell the U.S. Congress on Thursday.
U.S. Treasury bond prices turned mixed Wednesday as credit worries offset pressure from an unexpected increase in January retail sales.
There is good news and bad news today. The good news is that there have been some signs of stabilization: retail sales better than expected, commodity off their highs, and the stock market is behaving better this week.
Turnaround specialist Wilbur Ross said Wednesday he does not expect Warren Buffett's offer to reinsure $800 billion of municipal bond debt to succeed.
Cramer is standing by the beleaguered housing stock. Also, his take on Warren Buffett's bond insurer band-aid and why GM could go to $50.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The Buffett offer to take over the insurance liability of the municipal bond part of the mortgage insurers portfolio is causing a lot of debate on the Street. The general conclusion is, good for municipal bond holders, good for furthering a solution to another piece of the credit mess, but bad for the bond insurers, and the market is reflecting that in the down prices of the insurers today.
This morning on CNBC's Squawk Box, Warren Buffett publicly revealed for the first time that he has offered to reinsure $800 billion in municipal bonds now covered by the troubled insurers MBIA, Ambac and FGIC. Here is a video and transcript of the second part of this morning's live phone conversation, which also includes Buffett's comment that stocks are in the "general range of fair value" right now.
Warren Buffett's offer to back the municipal bond portfolios of three monoline insurers has put some bounce into stocks today, and it's also waking up the credit markets. Buffett's offer to have his Berkshire Hathaway guarantee the $800 billion municipal bonds covered by three troubled insurers is giving a big boost of confidence to a market made anxious...
Treasury bond prices slid after billionaire investor Warren Buffett offered to take over some liabilities of bond insurers, easing a critical concern that has inspired flight-to-safety bond purchases.
Rally on strength in cyclicals, agricultural stocks, insurance and banks. Markets are up for a couple reasons this morning. Most importantly, there is a sense that efforts are being made to address the credit problems, whether it is:
This morning on CNBC's Squawk Box, Warren Buffett publicly revealed for the first time that he has offered to reinsure $800 billion in municipal bonds now covered by the troubled insurers MBIA, Ambac and FGIC. That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two. Here is a transcript of the first part of this morning's live phone conversation.
Warren Buffett tells Fox Business that Berkshire Hathaway won't be investing in any troubled bond insurer, including Ambac and MBIA
Stock futures have rallied about 6 points, bond futures have declined as Warren Buffet appeared on CNBC saying he has offered to take over the muni bond insurance exposure from the big 3 bond insurers (MBIA, Ambak, and FGIC)--about $800 billion worth.
Warren Buffett tells CNBC this morning that he has a plan to help the troubled bond insurance situation, but so far it's not getting a very warm reception.In a live telephone call to Squawk Box just a few minutes ago, Buffett offered to reinsure $800 billion in municipal bonds now insured by Ambac, MBIA and FGIC, effectively giving them a AAA credit rating. Those insurers are in danger of losing their AAA credit ratings due to problems with subprime mortgages and other loans.Buffett tells us he sent that offer to the bond insurers last week, and that he's giving them 30 days to find a better deal. Buffett says one bond insurer turned him down, and he hasn't yet heard from the other two.
Treasury debt prices rose Monday as investors sought a safe haven for their assets in continued worries that a housing-led slowdown could be dragging the U.S. economy into recession.
Warren Buffett will be calling into CNBC's Squawk Box tomorrow (Tuesday, February 12) morning during the 8am ET hour for a First on CNBC live telephone interview with Becky Quick and the rest of the Squawk team. Buffett will be discussing the bond insurance situation.
Stock market bulls may be disappointed with the start to trading this week, but as one market underperforms there could be another reaping the rewards. If you need advice on where to put your money or adjust your portfolio then look no further.
Treasury debt prices rallied, recovering from their worst rout in four years as recession fears and worries about credit markets restored the allure of safe-haven government bonds.
Long bonds tumbled more than three full points on Thursday as selling accelerated following a poorly received auction of 30-year U.S. Treasurys.
Standard & Poor's is changing in the way it rates risk, implementing an overhaul that runs the gamut from governance procedures to public education to quell increasing scrutiny of the bond-rating firm's analytical integrity.