AMBAC Files for Bankruptcy

Them bonds be AMBAC guarenteed..............

With both AMBAC and MBIA, apparently the M stood for Mortgage...

Ratings agencies and the insurers, clearly criminal activity at hand. Fill the jails, toss the keys away...

But, in today's world, nobody will pay the price other than the investing public.

It humors me to realize that Madoff stole more money probably than the entire US prison population of petty criminals.