AMBAC

Finance allah shmoop what is am back and back You

know with that from poltergeist You know the scene where

the ghost appears for the tv set You know the

movie steven spielberg and all that you are Well guess

not Well ambac stands for something fastly less exciting than

ghosts It is the american municipal bond assurance corporation And

if you did something really bad in a former life

you have to come back and run this thing And

what is it Well it's basically a life insurance company

for bombs particularly munich bonds insurers underwriters investors and others

pay a relatively small fee to ensure the bonds in

which they invest and in return and back keeps a

bunch of dough in their pockets ready to step in

Should bond get close to the red line of not

being able to Hey it's interest knocking on the door

of deadbeat land Well am back is an actual publicly

traded corporation ticker a mbc who was destroyed in the

financial crisis of await no nine finally having to declare

bankruptcy itself ironically in two thousand thirteen with all due

irony inserted here and a little bit of snicker it

emerged from that mass with new management and vision and

a massive infusion of cash onto its balance sheet Will

am back Is sort of like the crazy uncle with

a bunker made of concrete thirty feet underground in central

new mexico waiting for that big one Just to be

sure humans remain around to populate the earth For the 00:01:28.178 --> [endTime] you know unclear Future doctor Strange Whoa