Remember Ambac?

While it may seem like years ago, it was only two months ago that the direction of the market seemed to hinge on the daily fluctuations of Ambac (ABK). Remember that Friday in February when the Dow rallied over 200 points off the low on rumors of a bailout for the company? Luckily for the market, investors have moved on from watching ABK. Since the early March capital injection into the company, ABK shares are down 44%.