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Expert Analyses of the following article:

Merrill, XL to bail out struggling bond insurer

Source: www.reuters.com
August 6, 2008
Bond Insurer Rescue ??....OPEN ISSUES...just around the corner...
Author: GLG Expert Contributor
Merrill Lynch and XL, Citigroup and Ambac "Commutations" illustrate problem of blindly applying P&C Insurance concept to CREDIT risk and the CAPITAL MARKETS.   Grappling with one issue at a time, in  separate policies, silos and islands DOES NOT solve the problem, when they are ALL tightly related. It's all about CREDIT [NOT "insurance"]. Like Merril and SCA, AMBAC paid $850 million...

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