Subprime fall-out A glance at the website of ACA Capital gives no clue to the trouble the company is in, or indeed the billions of dollars of losses it has caused at some of the world’s biggest banks.
The website advertises the services provided by the bond insurance company but makes no mention of the fact that ACA, which has deals with more than 30 banks to guarantee payments on more than $60bn worth of bonds and derivatives, on Friday night faced a deadline to pay close to $2bn or face insolvency.
