Dec 20, 2007

Morgan Stanley on MBIA's structured finance disclosure

We are shocked that management withheld this information for as long as it did. This new disclosure completely changes our view of MBIA being a more conservative underwriter relative to Ambac.

~ Ken Zerbe, Yoana Koleva, Morgan Stanley analysts, "MBIA details huge mortgage exposure, shares collapse ", Reuters, December 20, 2007

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