email: tips@dealbreaker.com
text: (646) 820-4847
call: (212) 334-1871
all tips are anonymous
MBIA, the mortgage insurer that decided to back all those subprime securities underwritten by Countrywide and others, will now have its day in court.
A judge ruled earlier this week that MBIA can proceed with its fraud claim against Countrywide (now Bank of America.) The insurer claims Countrywide lied when it told MBIA the mortgages being insured were “in in strict compliance with its underwriting standards and guidelines.” Continue reading »
Earlier this year, after a rash of criticism that their financial crisis coverage was far too fluffy, and that they weren’t taking this thing seriously, the Wall Street Journal vowed to start addressing the real issues. Nobody wanted to start losing serious investors to the Times and wouldn’t it be great if Rupes could say his reporters were ahead of the curve prior to the next crash? They started by tackling something huge: a Page One exposé on cankles. Many were worried that after blowing the doors off that story, the follow-up would seem frivolous by comparison. Even people at Dow Jones were nervous they’d shot their load too soon. Today those fears are put to rest.
