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Finance allah shmoop what is am back and back You

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know with that from poltergeist You know the scene where

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the ghost appears for the tv set You know the

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movie steven spielberg and all that you are Well guess

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not Well ambac stands for something fastly less exciting than

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ghosts It is the american municipal bond assurance corporation And

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if you did something really bad in a former life

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you have to come back and run this thing And

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

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for bombs particularly munich bonds insurers underwriters investors and others

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pay a relatively small fee to ensure the bonds in

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which they invest and in return and back keeps a

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bunch of dough in their pockets ready to step in

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Should bond get close to the red line of not

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

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of deadbeat land Well am back is an actual publicly

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traded corporation ticker a mbc who was destroyed in the

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financial crisis of await no nine finally having to declare

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bankruptcy itself ironically in two thousand thirteen with all due

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irony inserted here and a little bit of snicker it

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emerged from that mass with new management and vision and

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a massive infusion of cash onto its balance sheet Will

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am back Is sort of like the crazy uncle with

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a bunker made of concrete thirty feet underground in central

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new mexico waiting for that big one Just to be

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

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