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Nov 09

Big decline in new bankruptcy filings

Posted by Stephen Taub in Chapter 7Chapter 11Cashbond insurerBankruptcyData.combankruptcy

Stephen Taub

Ambac Financial Group's bankruptcy filing on Monday is a stark reminder of the ills of the financial meltdown.

The municipal bond insurer was doing just fine in what seemed to be a boring, mundane business, until it decided to branch out and insure the risky mortgages that played a major role in brining on the worst recession since the Great Depression.

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