Business news for Wed, 28 Nov 2007 & with words banks+world. 3 news.

Wall Street banks aren't the only ones taking a drubbing these days. Bond insurers, which guarantee municipal bonds and operate in a sleepy corner of the fixed income world, also insured subprime mortgage-backed securities. As a result, shares of bond insurers like Ambac Financial Group, MBIA and ACA Capital have tanked.

Wall Street banks aren't the only ones taking a drubbing these days. Bond insurers, which guarantee municipal bonds and operate in a sleepy corner of the fixed income world, also insured subprime mortgage-backed securities. As a result, shares of bond insurers like Ambac Financial Group, MBIA and ACA Capital have tanked.

China will tighten controls on bank lending to avoid measures that could result in a andquot;hard landingandquot; for the world's fourth-largest economy, Dow Jones Newswires reported Tuesday, citing a memorandum of a meeting between regulators and bank executives.