In the wake of recent mortgage lenders implosions and home builders implosions, it seems that there will be a wave of bond insurer implosions. Of note is Ambac. We will seek to take advantage by shorting into the sector. This story is from marketwatch.
http://http//www.marketwatch.com/news/story/security-capital-hit-cdo-downgrades/story.aspx?guid=%7B7D035313%2DB075%2D46BE%2DA5F7%2D6A173EC8EB8A%7D&siteid=yhoof
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