Tuesday, February 5, 2008

MBIA vs. Ackman

During its mammoth fourth quarter conference call that lasted 4 hours, MBIA took a shot at William Ackman:

"One other side benefit from our decision to accept questions only in writing. We clearly acknowledge we are taking the microphone as it were out of the hands of those inclined to ask questions of us. In the recent past, several such people have abused the privilege and used it as a soap box to raise criticisms, complaints, ramped or failed to ask coherent questions. Many of these people have effectively become adversaries of our Company, our employees, our clients and our business relationships. Many of them have demonstrated no problems finding media outlets to proselytize their messages against our Company. We see no reason to provide them with another forum to do so."

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