"​Muni Insurance Proves Worthless as Borrowers Shun MBIA, Ambac" writes Bloomberg. This Bloomberg article should alleviate concerns about municipal bond insurance companies MBIA and Ambac. "States and cities will reduce the amount of debt they insure to as little as 35 percent of total borrowings in the first half of 2008, according to a Dec. 13 report by New York-​based Bear Stearns Cos. That'​s down from more than 50 percent over the past five years, based on Thomson data.... Wisconsin, California, New York City and about 300 other municipal issuers sold bonds without buying insurance in recent weeks," says Bloomberg.

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