Recent

% | $
Quotes you view appear here for quick access.

MBIA Inc. Message Board

  • tommiegun53 tommiegun53 Sep 22, 2011 9:52 AM Flag

    13 Days to possible Settlement MBIA vs BofA

    The oct.5th hearing date is critical to BAC and could impact their liability for faulty mortgages made by Countrywide. A negative ruling by court may nearly double liabilities for securitized mortgages.

    Don't sell the dream, you a lower price as a buying opportunity.

    Tommie 9/22/11

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • sean egan was just on CNBC and said that if BOA faces $50B of suits he still seems them in excellent financial conditions.

      he also said he sees all of these suits being resovled out of court within a few months.

      big words from a guy who was sounding the horn on all of this stuff back before it imploded. he is the sole voice of truth in the ratings industry, ill take his word.

    • It's important but it isn't that important because:

      (1) Judge Bransten's ruling in favor of MBIA is largely a forgone conclusion. The real question is what will happen in Appeals and that is at least five or six months out.

      What I'm looking forward to seeing is if Judge Bransten will be "smart" and couch her ruling in terms of insurance law. She isn't the brightest and I kind of hope she goes for the full bore as it will be additional evidence of bias.

      (2)Even if MBIA wins, it simply does not matter as BAC can put Countrywide into bankruptcy at some point in the future. Even Judge Bransten will have a hard time ruling in favor of MBIA on successor liability. If she does, the odds of her being overturned are in excess of 90%

      MBIA is basically hosed and praying for a miricle.

    • The scare is that BAC will take Countrywide into bankruptcy I think. Don't really know, but I'm still holding. Wish I would have bought some protective puts though!!!

 
MBI
5.75-0.13(-2.21%)Jul 2 4:03 PMEDT