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Morgan Stanley Reaches Comprehensive Settlement With MBIA

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Tue, 12/13/2011 - 10:01 | 1973474 AngryGerman
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James P. Gorman, President and Chief Executive Officer, continued, "We are on a good road to secure our multi-million bonuses, also for coming years. And if they ever again are threatened, we just call again upon the taxpayer to bail us out."

Tue, 12/13/2011 - 10:04 | 1973482 fonzanoon
fonzanoon's picture

So is this bad for MS? Can't they just do another one of those accounting doohickey tricks where they buy their own bonds and claim a 3 trillion dollar earnings beat? Everyone celebrates. The next day a few people mumble that it was a trick and then we all move on.

Tue, 12/13/2011 - 10:10 | 1973505 Stax Edwards
Stax Edwards's picture

Excellent Call TD, MBI gangbusters in pre

Tue, 12/13/2011 - 10:20 | 1973547 mspgrandi
mspgrandi's picture

ha!

missed out on this trade. :-(

can anyone suggests what happens next to mbia? massive spike on the next two day the occasion of a lifetime to short?  i mean, is the company actually making any money at the moment (litigiations apart) or is its model broken?

Tue, 12/13/2011 - 10:24 | 1973582 NumberNone
NumberNone's picture

Kudos to ZH and TD for the trade.  I jumped all over this at $9.  Nice Christmas gift today.  I like the prospect of much more short covering.  Love this site. 

Tue, 12/13/2011 - 12:15 | 1974253 golfrattt
golfrattt's picture

Wow, the entire Mbi pop off today's news retraced, the whole fucking thing...

I'd say Buy and Hold is alive and well...

NOT...!!!!!!!!!!!!!

Tue, 12/13/2011 - 15:06 | 1975092 Matt
Matt's picture

$1.8  billion is a lot of money for a company with a $2.2 Billion market cap ... any estimates on how much actual earnings this settlement will generate?

Wed, 12/14/2011 - 13:40 | 1979324 Matt
Matt's picture

WSJ reports MBIA is paying Morgan Stanley $1.1 Billion as part of the settlement http://online.wsj.com/article/SB10001424052970203518404577096173087163522.html 

Sun, 12/18/2011 - 11:11 | 1991373 ThrivingAdmistC...
ThrivingAdmistCollapse's picture

Arrrrgh, that was a good trade!  I wish I was able to buy that stock before it happened.  www.survivingeconomiccollapse.net

Sun, 12/18/2011 - 20:54 | 1992503 yxj55
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