Municipal Bond Insurer Loses $2.3 Billion In Quarter-Subprime Related: AAA Rating on theLine.

[Title correction]
Bloomberg reports HERE that the WORLDS largest municipal bond insurance company, MBIA, has reported a sub prime related quarterly loss of $2.3 billion, raising the possibility that they could lose their triple A credit rating, unless additional cash is injected into the company.

The Bloomberg report also says that "The loss came a day after FGIC Corp.'s insurance unit became the third financial guarantor to be stripped of its AAA grade by Fitch Ratings."