Bizarre Day for Ambac Shares, plus William Ackman says Bond Insurers Need to be Downgraded Further

On a day when William Ackman says the bond insuerers need to be downgraded further, and a day with a broad market sell-off, Ambac shares somehow ended up (marginally) positive. The volume was heavy and it's always interesting to think about who might be buying (don't think this was short-covering). Nearly all the insurers were down for the day...

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