How About A "Monoline Tsunami"? (DB)(MBI)(ABK)

Banking, finance, and taxes

Published: February 8, 2008 8:59 am

The head of Deutsche Bank (NYSE: DB) said the US could be driven into a deep recession if the muni insurace companies including MBIA (NYSE: MBI) and Ambac (NYSE: ABK) fail. The CEO said in an interview with Bloomberg that the downgrades among the bond insurers could trigger a “tsunami-like event comparable to subprime’’

He did not say "Have a nice weekend".

Douglas A. McIntyre