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MBIA
Latest Headlines
Latest Headlines
JPMorgan Chase, UBS among latest banks subjected to state investigations
The New York Attorney General Eric Schneiderman has expanded his investigation into mortgage practices by big banks, Bloomberg reports.
Schneiderman's office is now looking JPMorgan Chase, UBS and Deutsche Bank. Those companies join Goldman Sachs, Morgan Stanley and Bank of America as bank
Bank of America's gift to bond insurer
Bank of America ( NYSE: BAC ) has suddenly made the outlook for once-troubled bond insurer Assured Guaranty a lot brighter; no wonder it's stock surged in the wake of Bank of America's first quarter earnings report. Bank of America said in a related release that it had inked a settlement over re
The end of bond insurer MBIA?
You have to give MBIA some credit for simply staying alive as a corporate entity in the wake of the financial crisis. Of course, to some that's tantamount to giving Lehman Brothers credit for staying alive as a creature of the bankruptcy courts.
MBIA is a mere shell of what it once was, and no
MBIA sues Morgan Stanley despite questionable future
In yet another reminder that litigation from the financial crisis has yet to run its course, bond insurer MBIA has sued Morgan Stanley, claiming the bank misrepresented the quality of the mortgages in various mortgage-backed securities MBIA insured. Most of the 5,000 loans embodied in the bond did
Perhaps the threat of foreclosure litigation is overblown?
The news that PIMCO, the New York Fed and other investors are asking for billions of dollars worth of putbacks hit banks stocks like a bludgeon. But how big of a deal is this? Many assume the plaintiffs have a very strong suit, but it may not be that cut and dried. "Any litigation is going
Just how vulnerable are banks in foreclosure crisis?
When it comes to Bank of America (NYSE: BAC ), a stark difference of opinion has emerged about the ultimate costs of the foreclosure mess. Branch Hill Capital, a hedge that is now shorting the bank, has suggested the nation's biggest consumer bank could be facing more than $70 billion in lo
Are we in for more sponsor PIPEs?
The private equity industry unfortunately has a long history of train wrecks when it comes to private investments in public entities (PIPEs). The most recent: TPG Capital's $1.35 billion loss on its disastrous investment in Washington Mutual. Other worrisome financial deals include Warburg Pincus'
The greatest short bets of all time
When John Paulson, of Paulson & Co., bet against mortgage-backed collateralized debt obligations, he didn't hold back. His funds shorted the ABX and longed various credit default swaps--and it paid off. His $15 billion profit in 2007 is the stuff of legends. According to Business Week Online
Full impact of bond insurer downgrades not yet felt
The Financial Times notes that banks have yet to feel the full brunt of the impact from the recent downgrades of bond insurers. There likely will be more writedowns stemming from credit default swaps (CDSs) meant to be insurance--what cruel irony--against various collateralized debt obligation
MBIA CDS drama plays out
At some point, an institution becomes so shaky that it actually becomes a form of leverage with regulators. MBIA is a great case in point. The New York Times notes that in early May, MBIA promised to inject $900 million into its troubled insurance unit, which had underwritten nearly $140 billi
