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Excuse me? BAC made MBIA an offer? Surely, that's bass-ackwards...
i miss agrotera
What's Geithner up to now?
These are his bastard children...
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.......
Short MBI at $10. No questions asked.
"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..."
I think you could have stopped at "...with America."
With that kind of upward momentum, MBIA could replace BOA in the Dow 30 and give it some juice northward.
MBIA would be severely underpriced at $10 if they get any kind of fair settlement out of BAC
What? No hangings? Again?
It's coming. And it ain't the debt ceiling and it ain't about flag waving...per se.
So, you are saying that GOOG will be limited to 10% tomorrow?
Ha! You hear that sound Jamie? the drums beat for you... they are coming.
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.
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