Ackman's Letter to NY Insurance Commissioner & SEC
Ladies and Gentlemen:
In an attempt to improve the level of discourse in the marketplace regarding potential losses in the bond insurance industry, we are releasing today a dynamic financial model (the “Open Source Model”) that contains extensive detail on the precise CDO and related
exposures of the insurance operating subsidiaries of both MBIA and Ambac. The Open Source Model can be customized to allow users to estimate losses using their own assumptions.
Read the complete letter in PDF
Thanks to Todd Sullivan's ValuePlays for the link.