Ackman Submiting Data To SEC and NY Insurance Commission on Larger Bond Insurer Losses - CNBC
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According CNBC's Charles Gasparino, hedge fund manager, William Ackman of Pershing Square Capital, is submitting data to the SEC and the New York Insurance Commission, showing that losses and exposure at the bond insurers is larger then the companies are admitting. Ackman sees losses of $12 billion.
Ackman is short (beting against) bond insurer MBIA (NYSE: MBI).
Other stocks: Ambac (NYSE: ABK).
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