Seeking Alpha

More on the BofA/MBIA settlement: Bank of America (BAC +4%) will pay MBIA's mortgage insurance...

More on the BofA/MBIA settlement: Bank of America (BAC +4%) will pay MBIA's mortgage insurance arm about $1.6B plus some IOUs, bringing the total amount to $1.7B, reports the WSJ. Additionally, the bank will take about a 5% stake in the holding company, MBIA (MBI +41.9%). It's a win-win as MBIA Insurance gets a lifeline and BofA removes the potential of a far larger award at trial. Congrats to BTIG's Mark Palmer and keen bloggers like Christian Herzeca who recognized MBIA's legal "loss" last week as a big push for BofA to get this thing settled.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|