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Monoline insurers struggling to meet guarantees

Monoline insurers, which guarantee the repayment of bond principal and interest when an issuer defaults, facing huge losses due to their insurance of toxic RMBS, CDOs and other Asset backed securities.

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Pathology in the Credit Default Swaps market
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Monoline insurers struggling to meet guarantees
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Monline difficulties spill over into money market funds
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CDS market complex, unregulated and secretive
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Complex financial instruments that few understood
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Credit default swaps became divorced from underlying value
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Hedging/Netting contracts created web of vulnerability
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Reckless securitisation on top of reckless lending
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Resources of regulators limited in comparsion to market players
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Speculative swaps grew to dwarf real insurance swaps
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Vast scale of rewards encouraged complicity with system
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