MBIA and others would much prefer reinsuring the part of their business that is at greater risk for future losses. They would like to pay a smaller premium than what Berkshire has suggested. Buffet only wants to ensure policies on the $800B of muni bonds not the mortgage piece. Insureres would pay a steep premium and prob not accept terms of 150% of premiums to Buffet.
A plan is better than a genius with no plan.
2011 Flying Heart Cellars Red Wine - $5
13 years ago
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