MBIA (MBI -17.6%) falls as Bank of America (BAC) offers par for the company's outstanding bonds....


MBIA (MBI -17.6%) falls as Bank of America (BAC) offers par for the company's outstanding bonds. The two companies are tied up in a legal battle in which MBIA is depending on payments in the billions from BofA for mortgage putbacks, but the bank's control of MBIA's debt may throw that into question. (PR)

Comments (3)
  • JeffreyLangBoyd
    , contributor
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    Imagine the bond holders would consider this to be poetic justice given the way MBIA treated them in the split-up.
    13 Nov 2012, 03:57 PM Reply Like
  • fxfx
    , contributor
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    If you still needed any proof that BoFA was a criminal organization, then this is the ultimate one. Blocking capital restructurings in MBI in order to let them not survive till the legal judgment arrives. Moynihan and his crooks should go to jail asap just for this one.
    I wonder how bruce berkowitz looks at that development.
    14 Nov 2012, 03:15 AM Reply Like
  • JeffreyLangBoyd
    , contributor
    Comments (663) | Send Message
     
    o.k. fine let us agree to disagree on the actions of BAC but what about the actions of MBIA? Do the rules not apply to them???
    14 Nov 2012, 12:03 PM Reply Like
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