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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
SAN FRANCISCO (MarketWatch)
Ambac Financial Group (ABK 0.72, -0.19, -20.60%) said late Monday that it generated a second-quarter net loss attributable to common shareholders of $57.6 million, or 20 cents a share.
That compares to a net loss of $2.37 billion, or $8.24 a share, in the same period a year earlier.
Ambac shares fell 20% to 72 cents in after-hours trading on Monday
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Ambac Financial Group, Inc. Announces Second Quarter 2010 Results
NEW YORK, Aug 09, 2010 (BUSINESS WIRE) -- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced a second quarter 2010 net loss of $57.6 million, or a net loss of $0.20 per share. This compares to a second quarter 2009 net loss of $2,368.8 million, or a net loss of $8.24 per share. The second quarter 2010 results reflect loss and loss expenses in consumer asset-backed securities, other structured finance exposures and a transportation transaction and a net operating loss in the financial services segment, partially offset by a positive change in fair value of credit derivatives. In 2009, Ambac's second quarter results reflected significant loss and loss expenses related to the insured residential mortgage-backed securities ("RMBS") portfolio, other-than-temporary impairment write downs of securities in its investment portfolios and an increase in its deferred tax asset valuation allowance.
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