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June 25: Errors
in the Conference Call
held by the Labor Council
for Latin American Advancement
(LCLAA)
The Labor Council for
Latin American Advancement
(LCLAA) held a conference
call for members of the
media on June 25. In the
course of the conference
call, a number of erroneous
statements about MBIA
were made by Dr. Lemus,
as well as by Dr. Mason,
a purported expert on
bond insurers. As will
be made evident in the
following identification
and correction of these
errors, Drs. Lemus and
Mason lack a basic understanding
of MBIA’s business,
portfolio and capitalization.
They clearly made no effort
to check their facts in
advance of the call and
never contacted in MBIA
in advance of the call
to express their concerns.
According to a Dow Jones
Newswire article, “The
call was publicized in
part by an e-mail sent
by public relations firm
Group Gordon, on behalf
of Ackman's Pershing Square
Investments, a frequent
critic of bond insurers
that has long held a short
position in MBIA”
…click
here to read more.
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