MBIA Says Capital Is Adequate, Rejects Speculation

MBIA Inc. Chief Executive Officer Gary Dunton said the world's largest bond insurer has more than enough capital to keep its AAA credit rating and dismissed speculation the company may go bankrupt.

Dunton, speaking on a four-hour conference call after Armonk, New York-based MBIA reported a $2.3 billion quarterly loss, blamed ``fear mongering'' and ``distortion'' for driving the company's stock down more than 80 percent in the past year.

``It's very difficult to see the reputation of a company you love coming under fire,'' Dunton said. ``The ground has literally opened up below us in the industry,'' he said.

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- Posted: 2008-01-31 16:08:08

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