The real question now is does this affect BAC willingness to settle.
I doubt they will settle. This is good news, not great as it was 60% (less the lawyers fees). But it probably helps push any court decision on BAC more in the direction of of favoring MBI. The amount is not enough to help with the seizure, but it could also help with their argument of putting off seizure until settlement with BAC. That's a big maybe as the case could be be appealed even if they win and time will be running out. But the biggest risk I see going forward is I had my simple facts wrong (sorry), I thought the loan between muni and mortgage was a billion, tonight I see it was 1.7 billion. The win tonight goes to pay that down a little but it's still big. I also still do know in the case of seizure how much of the now 1.59 billion dollar loan would be at risk and from the questions I have asked here in the past it does not appear anyone else knows. Any ideas on this appreciated. I also do not know if the rise from 9 to 9.42 was dues to insiders passing on settlement info and then the decline following time to digest or get factual numbers that it;s not enough to matter much.. But it does seem to follow the obvious pattern of the stock trading on inside information.
Yes they can, and I believe they stay in business. But as I keep posting there is the matter of the 1.59 loan. I am not sure what happens to this in case of the seizure. Also I posted a couple of days ago a bunch of possible other negatives should this come to pass.
Mixed. I had thought we were very near a market top. Good employment number today with great revisions so it remains to be seen as of the moment. I have no position but had wanted to get long as a trial settlement approaches. See how MBI reacts today to last nights news. As I stated I doubt it really does much to share price, unless it's seen as an indicator which BAC might be more likely to settle before the trial which I doubt.. It does want to go back to 10 and it's possible with the jobs report, if pre market is not a head fake, which at the moment I doubt. However if the market heads down over the next couple of months 7 is a pretty easy target, and upside may be limited because the trial is significant, unless of course they settle prior. But the trial stuff will probably pretty easy to read as there is a mole at MBI and the stock moves before information made public. It's a very miexd picture.