Proof that MBIA is Dead Meat
February 13, 2008
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Now, it's complaining about those pesky short sellers. Plans to ask lawmakers to do something about it.
Yup, the guys who helped construct the elaborate credit Ponzi scheme that's now crippling certain parts of our economy, they're whining to lawmakers that they're too important to fail, and as such, short sellers (who have been right, in spades) about their lousy businesses, shouldn't be allowed to testify before congress.
Oh, and better yet, lawmakers need to bail 'em out, they say.
Lawmakers must support capital raising efforts of the bond insurers, because failure could have "far-reaching effects on the U.S. and global economies," MBIA wrote.
Punks.
