by Calculated Risk on 1/30/2008 03:26:00 PM

Still waiting ...

Meanwhile, CNBC reports: MBIA, Ambac Understate Losses: Short Seller

William Ackman, a hedge fund manager and short-seller of MBIA, is submitting data to the Securities and Exchange Commission and insurance regulators in New York State alleging that bond insurers MBIA and Ambac Financial Group are understating their losses.

In his report, Ackman, of Pershing Square Capital, will contend that both bond insurers have said their mark-to-market losses are less than $1.5 billion. According to his analysis, the losses for each firm will be around $12 billion.