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Triad Guaranty Inc. Message Board

  • suggar_babbi2005 suggar_babbi2005 May 18, 2009 12:46 PM Flag

    this dude Sean has been ruuning tgic and Ambac

    into the ground on the message boards for the last 12 months...he had from May 2008 til Nov 20th 2008 posts removed because he thought he was liable for false and misleading statements against Ambac for saying they filed bankruptcy last summer. beware of him...he said tgic was finished and had a 99% chance of failure about 1 week ago...said Ambac had 90% chance of failure. that's the heads up on this piece of trash.

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    • technically TGIC is "finished", it has stopped writing business over a year ago.

      anyone buying TGIC at any level is a pure sucker. there will be no equity value left when this one is done. none. they can't even pay their claims.

      any improvement they are seeing now is because they are ceding reserves to their captive counterparties, but those captive reserves will soon be exhausted, at which point TGIC will have to keep all its reserves (same with the other MIs, by the way).

      if you think book value is negative now, just wait until the have to start keeping all their reserves.

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