Wednesday, April 09, 2008
Do not pass go
1986 INSURE AMBAC's Municipal Bond Insurance board Game - eBay
Where is the "levered 100-to-1 and insolvent" square?
"Players represent insurance companies who compete to insure bond issues sold by municipal governments. Just as in real life, one issuer may sell more than one bond issue, each of which might be insured by a different insurance company. The 36 different issuers have different probabilities of default, with riskier issues represented by dice faces with numerically higher values. Riskier issuers pay higher premiums to their insurance company, but also have a greater chance of defaulting and causing the insurer to pay a claim." Most money at the end wins.
Where is the "levered 100-to-1 and insolvent" square?
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