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  "documentTitle": "Assured Guaranty (AGO)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2018-04-23 00:00:00",
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  "notes": "The slide calculates total losses based on different recovery assumptions for AGO's insured debt portfolio.",
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      "text": "If the maximum tax-supported debt after a restructuring would be at most $18 billion, it implies losses of over $2 billion on just the tax supported debt AGO has insured.",
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      "text": "Total Loss: $3,413",
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      "text": "If the maximum tax-supported debt after a restructuring would be at most $18 billion, it implies losses of over $2 billion on just the tax supported debt AGO has insured. This is before you consider losses on its $1.6 billion exposure to utilities and municipal debt. Altogether the principal loss approaches $2.8 billion. And if we used the average of the four metrics instead, the loss would be $3.4 billion.",
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      "text": "Source: AGO Q4 2017 financial supplement; pricing from Bloomberg LP retrieved April 19, 2018; April 2018 Control Board fiscal plan; and Greenlight calculations.",
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