Andrew Leckly of Tribune Media Services reports that stock of MBIA Inc. declined sharply in 2007. Although the giant bond guarantor has international growth prospects, don’t count on them if it drops the ball in its own country.

Moody’s, Standard & Poor’s and Fitch rating services have affirmed their AAA financial strength rating of MBIA, but also added an ominous “negative outlook.” They’d previously assumed MBIA had been conservative in all business dealings.

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