Bailout at What Price?
I had good laugh at this quote on Mish's blog:
"Bankers told CNBC that there was no consensus formed at the meeting and no movement on creating substantial plans for a rescue. Moreover, reports of the meeting may have made a bad situation for the industry worse, bankers said, as a subsequent jump in bond insurer stock prices scared off private equity firms that may otherwise have injected capital into the companies."
So, the insurer stock prices jump on rumor of a buyout, but the very jump they did scares off anyone who might buy them out....