MBIA (MBI) Dips; Speculation Surrounds Seizure of Insurance Unit (BAC)
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Misunderstood MBIA (MBI) Scenario w/ BofA (BAC) Provides Buying Opportunity
May 2, 2013 11:10 AM EDTGiven recent speculation surrounding MBIA, Inc. (NYSE: MBI) in its ongoing litigation with Bank Of America's (NYSE: BAC) Countrywide, could the institution actually be a Buy given the circumstances?
BTIG thinks so. The firm points out that many media releases are understating the actual position MBIA is in. Last November, MBIA instituted a consent solicitation, effectively splitting-off MBIA Insurance risk from holdco and MBIA's municipal unit, National Public Finance Guarantee Corp.
Given the move, BTIG thinks that the value in MBIA is derived solely... More
MBIA (MBI) Slumps on Unfavorable Summary Judgement Call in Countrywide Case(BAC)
April 30, 2013 10:01 AM EDTMBIA, Inc. (NYSE: MBI) shares are getting hit in early trading Tuesday following news late Monday that it lost a bid for summary judgement against Bank of America's (NYSE: BAC) Countrywide unit.
Bloomberg notes that New... More
