Banking, finance, and taxes
A Split-Up Of Bond Insures Would Hurt Banks (MBI)(ABK)
Published:
If muni-bond insurers like Amback (NYSE: ABK) and MBIA (NYSE:MBI) are forced to break into two pieces, some banks could be badly hurt. The halving of the firms would leave the muni piece of the businesses in one set of companies and the more risky structured investments pieces to operate on their own.
According to Reuters, if insurer FGIC is made into two companies "investment banks that traded with FGIC would be forced to take losses." Those banks probably include Citigroup (NYSE:C), Societe Generale, and UBS (UBS).
Reuters reports further that "banks are generally facing the risks of big writedowns from hedges they put on with bond insurers."
Douglas A. McIntyre
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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