I went back to the Reuter's story of December 11th and noticed in the third paragraph this statement, "The plan, based on a $2.1 billion contribution from Ally, could go into effect as early as next week, and definitely by December 24, a lawyer for ResCap said."
I don't know where or when a Wednesday timeline came from but whether it is this week or early next we might finally get complete legal approval on this case.
Lee, the MBIA website is very selective in disseminating news. I would have thought that a press release should/would have been issued when BofA exercised their option and purchased 10 million shares. Tommygun reported here that this occured last month yet I have never seen anything public to verify the transaction.