What's Up With MBIA?

Posted by John Carney, Dec 10, 2007, 11:00am

Shares of mortgage insurer MBIA are halted, news pending. The company is widely expected to announce it is raising new capital but rumors persist that it may be darker news. What are you hearing?

Update (thirty seconds later): Oh, never mind. They've announced. Warburg Pincus is buying a $1 billion stake.

Update (30 minutes later): Of course, there was darker news. Word of this investment comes with news of that the mortgage insurer faces significantly higher losses from a decline in the value of securities it guarantees. Here's a link to the Bloomberg story.

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Posted in: Rumors

Comments

Posted by anonemus, Dec 10, 2007 11:14AM

MBIA to Get $1 Billion From Warburg Pincus

Posted by , Dec 10, 2007 11:23AM

backstop agreement too

Posted by wp, Dec 10, 2007 11:23AM

Guess Ackman's donation to charity on that MBIA short just got a wee bit smaller...

Posted by , Dec 10, 2007 11:40AM

Who's going to take it worse:

BofA on the Countrywide Deal
Camel Jockeys on the C Deal
Warb-Penus on the MBIA Deal
American Taxpayers on the Govt Deal

??

Posted by anon, Dec 10, 2007 1:39PM

taxpayers, by default. I'm not even a homeowner, and I'm wondering where our "Boston Tea Party" will be held as ye olde humble taxpayers of a "stupid tax". Can I throw Tea in the Hudson anymore, or is that going to get me life in prison?

Posted by EE, Dec 10, 2007 2:13PM

its 2007, the tea party is online.

http://www.teaparty07.com/

Posted by , Dec 10, 2007 2:16PM

Touche, supporter of He-Whose-Name-Shall-Not-Be-Mentioned

Posted by , Dec 10, 2007 2:21PM

There is a prop bet at Sportsbook.com. I put $25 on yes, because there are too many freaks in this country to bet against.

Money Bomb - Total Money Donated to www.ronpaul2008.com on December 16th 2007 (12:00am to 11:59pm Eastern Standard Time)

Over 6 Million Dollars Donated (6000000 USD) 2 - 5

Under 6 Million Dollars Donated (6000000 USD) 9 - 5

Posted by , Dec 10, 2007 2:23PM

There is a prop bet at Sportsbook.com. I put $25 on yes, because there are too many freaks in this country to bet against.

Money Bomb - Total Money Donated to www.ronpaul2008.com on December 16th 2007 (12:00am to 11:59pm Eastern Standard Time)

Over 6 Million Dollars Donated (6000000 USD) 2 - 5

Under 6 Million Dollars Donated (6000000 USD) 9 - 5

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