Gotta love the Bond insurance companies in the bankruptcy

[jt1]

Two [[possibly more) of the bond insurance companies that are complaining that they will be impacted if bond holders take a cut in BK have, in the last few years filed their own plans of rehabilitation.

Essentially, they have gone to the courts to ease the burden of paying full amount of claims they have insured due to poor financial management:

Ambac filed for a plan of rehabilitation in 2010/2011: http://ambacpolicyholders.com/press-releases/

FGIC, the ones getting bides on DIA art, filed a plan of rehabilitation in June 2013 and recently emerged from it.
http://www.fgic.com/policyholderinfo...hadexibits.pdf

So these leeches claiming they are impacted because the city can't manage finances.........can't manage their business.

The irony is wonderful. Although it wouldn't impact the case, I'm curious why the local media has not been bringing this up for no other reason than to embarrass them and point out the hypocrisy.

[DetroitPlanner]

"Do as I say, not as I do!"

Let em have all of those valuable houses they let turn to crap instead.