Jobless Claims Shoot Up/ MBIA loses $2.3 billion

Jobless claims increased by 69,000 to 375,000 last week.  That is the biggest rise since hurricane Katrina. 

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aoT8ibmUeaq8&refer=home

 

MBIA lost 2.3 billion on souring credit derivatives.  MBIA said it is considering new options to raise capital.  It is currently in danger of losing its AAA ratings.

 

http://ap.google.com/article/ALeqM5hbNSWARwGaxzmkuvJvb0YHundC0QD8UGRT1O0

 

The was down about 1.2% and S&P 500 down about 1.5%.