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Berkshire Returns to Insure $106M of Bonds for Texas Furniture Store

FEB 7, 2013 5:02pm ET

A Dallas suburb raised $186 million for a major retail development in a deal that includes the first bonds insured by Berkshire Hathaway Assurance in more than three years.

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Comments (1)
Based on my experience as an officer of AMBAC 1982-94, BHA's insuring a huge corporate deal raises red flags. Moving beyond our municipal bond insurance sweet spot began the loing slide that culminated in AMBAC backing CDOs and ultimately bankrupted the company. The fact that BHA is offering a guaranty for a related firm is also troubling.
Charles Sandmel, CFP
First Affirmative Financial Network, LLC
Posted by csandmel | Monday, February 11 2013 at 11:03AM ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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