The largest U.S. bank lost more than $2.39 billion in its home loan business as revenue fell and expenses rose. A settlement with a bond insurer over mortgage bonds gone bad cost it $1.6 billion.
The statement says that they settled with Assured Guarantee; but that is good news for all monolineshttp://blogs.wsj.com/marketbeat/2011/04/15/stocks-to-watch-infosys-cirrus-bofa-and-more/?mod=yahoo_hs
BAC announced that they had settled with a monoline in this mornings earnings release. CEO said it was signfiicant. Was it with MBIA? Possible.