I sold out the rest 2/3 of abk at 1.88 except the lowest lot I

bought at 1.23 and others in my retirement accounts at prices maybe around 3 (forgot).

I think I have a misconception about liquidity crisis on downgrade. Before I think once downgraded, abk is short of about 2-3 billions on collateral, if it can\'t get a cash infusion from outside help, it needs to file chapter 11 for protection. But I just realized that abk has enough liquidity, it is its financial service unit has liquidity crisis. I was surprised at abk\'s share price performance, I was anticipating a worse performance. I reread the press release, realize that abk is fine short term, so we are back to our normal business. A credit downgrading does not hurt abk much, since it has been in run off mode for a long time.

In summary, we need to watch housing mortgage market and abk\'s quarterly financial performance to determine abk\'s value. Short term, watch Fed\'s rescue plan/news. I may buy back abk at any time.