Dissecting the ACA Downgrade

S&P shook the Street when it reassessed the bond insurer. Critics say it should have done so sooner.

Business Week - April 14, 2008 (Print Edition)
By David Henry and Matthew Goldstein

The collapse of ACA Financial Guaranty late last year was one of the more jarring moments of the mortgage meltdown. The trigger: a downgrade of the bond insurer by Standard & Poor's.

[Janet Tavakoli is quoted regarding the delay in downgrading ACA].


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