MBIA Settlement Approaches, Stock Soars, Triggers Circuit Breaker

Tyler Durden's picture

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SwingForce's picture

Excuse me? BAC made MBIA an offer? Surely, that's bass-ackwards...

janus's picture

i miss agrotera

carbonmutant's picture

What's Geithner up to now?

These are his bastard children...

SwingForce's picture

Hey, I have an idea: Lets get the printout of the mortgages in Maiden Lane's portfolio, then we get our robo-signers to print fake titles, we foreclose on them and keep the money! Then we offer MBIA.......

slaughterer's picture

Short MBI at $10.  No questions asked. 

Logans_Run's picture

"In other words, by doing to Bank of America first what the NY Attorney General is doing to the firm right now, it was only a matter of time before the Charlotte-based symbol of all that is broken with America's mortgage system..."

TD:

I think you could have stopped at "...with America."

 

Texas Ginslinger's picture

With that kind of upward momentum, MBIA could replace BOA in the Dow 30 and give it some juice northward.

 

ghostfaceinvestah's picture

MBIA would be severely underpriced at $10 if they get any kind of fair settlement out of BAC

ebworthen's picture

 

What?  No hangings?  Again?

 

disabledvet's picture

It's coming. And it ain't the debt ceiling and it ain't about flag waving...per se.

YesWeKahn's picture

So, you are saying that GOOG will be limited to 10% tomorrow?

AccreditedEYE's picture

Ha! You hear that sound Jamie? the drums beat for you... they are coming.

Victor Berry's picture

Give MBIA credit for staying solvent long enough to partake in settlements with the big banks.  The same can't be said for AMBAC and other insurers who went under long ago.

Chalk up another failure to Bernanke's crooked forebearance plan with the big banks that was designed to drive all insurers out of business before legal proceedings could occur.