Monetaey reseeve last quarter was 1 billion at GNW this quarter ?
Tree his was the 1st of many quarters rhat gnw did not talk about how much they have in reserve.
It was like they are trying not to tell reserve amounts this quarter so BAC won't try to win more. .
They are secretive about what is in reserves now.
Interesting. . Don't show your cards.
The positive thing is that IMO, BAC is negotiating from a weak position. Believe the settlement will be a positive for GNW. Need to get this behind them so they can continue to build shareholder value.
In all probability all the money that BAC gets will end up in AIG accounts as they are facing a multi-billion settlement with them. I often wonder if AIG will buy this company. It is way too far below book to stay independent now that their operations are running so well.