ASX 0.84% $79.23 asx limited

no more credit crisis

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    the credit crisis will end witin 2 week time and the conidence will get back to the bond market special after today news ,

    report on CNBC that suggested that banks, including Citigroup and Wachovia , and bond insurer Ambac Financial Group would be working over the weekend to craft a rescue plan for the bond insurer. The plan would be announced Monday or Tuesday.
    that a solution for Ambac would ease the current credit crunch.
    The goal would be for Ambac to split itself in two and raise $3 billion in new capital. About $2.5 billion would be new equity; the rest would be debt.

    If successful, the split would safeguard Ambac�s top credit ratings and prevent banks from having to write down billions of dollars in mortgage-related securities they have insured through Ambac, The New York Times said.

    The key to getting close to a deal was widespread participation from banks that hold securities that are at risk of downgrade if the firm itself is downgraded
 
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