MBIA

  • vigorous AND authoritative

    News

    Lynn Tilton Gets Some Good News

    “There are three universal lies: Margins are weak, but we’ll make it up in volume; the check’s in the mail; and I won’t come in your mouth” is really a thing that Partiarch Partners founder and CEO Lynn Tilton says, but “we’ll double down and make up all our losses” probably deserves a spot on […]

    / Jun 11, 2013 at 5:52 PM
  • angelo_mozilo

  • Bloomberg GP is great because it looks like these are actual prices but I'm not sure there are underlying trades, especially after that spike. Is this bond trading at 71? Mehhh.

    News

    Bank of America And MBIA Pretty Much Just Fighting Each Other For Fun Now

    There are some financial jobs that come with a perhaps undeserved swashbuckling cachet. “Oh, you know, I do hostile takeovers,” you say, and a certain crowd will treat you like you just got back from plundering a Spanish ship-of-the-line, even though you mostly sit in a cubicle updating spreadsheets and changing the wording in press […]

    / Dec 14, 2012 at 10:11 AM
  • Also may be unfair to blame Google Docs; my skills have atrophied.

    Banks

    You Fight With Bank Of America Over Bad Mortgages, Bank Of America Fights Back

    Was there mortgage-related misbehavior at Bank of America and its various after-acquired subsidiaries? I wasn’t there, but on public information, I mean, sure, why not. Some days it looks like there was mortgage fraud everywhere. But whereas everyone else is all “sorry about the mortgage fraud” and “here is a large settlement,” BofA is not […]

    / Nov 13, 2012 at 5:51 PM
  • News

    Countrywide Might Have Been Better Off Herding Goats

    While we were out some people who keep to a less rigorous vacation schedule than we do wrote some stuff about complexity in finance. Lisa Pollack at FT Alphaville started the ball rolling by attributing increasing complexity in finance to increasing smartness in the financial industry. This is a delightful theory if you are or […]

    / Jan 3, 2012 at 6:33 PM
  • News

    Pershing Square Has An Official Rule About Kicking People In The Nuts

    As you’re likely aware, one of the most important skills to master when you’re in this money making game is to be able to regulate your emotions. You can’t freak out every time you lose a little cash, and on the flip side, it’s probably a good idea to avoid doing an end-zone dance on […]

    / May 3, 2010 at 2:45 PM
  • News

    MBIA Fraud Suit Against Countrywide to Proceed

    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 […]

    / Apr 30, 2010 at 5:51 PM
  • News

    Why Was Goldman’s Structured Products Desk Trading Equities?

    That question came up in the hearing earlier this week in reference to an email sent by Josh Birnbaum, a former MD in Goldman’s structured products group. The email, sent in July 2007, sought authorization form senior management for the structured products desk to buy put options on a slew of competitors including Merrill Lynch, […]

    / Apr 30, 2010 at 12:51 PM
  • News

    What Did Bill Ackman Eat For Lunch The Day He Told MBIA’s CEO To Stuff It?

    As many of you are aware, when Bill Ackman was just a young pup of a money manager, before he was coming up with genius one-stock funds, he placed a bet against MBIA, based on Ackman’s belief that the company’s AAA rating was the stuff of bull shit.  No one had ever dared question the […]

    / Mar 24, 2010 at 12:00 PM
  • News

    I Want My Two Dollars

    What will we miss most about the last few years? Well, the list is long, but high up on it is Bill Ackman’s skewing of MBIA. That trade was a brutally long campaign, and caught Ackman a lot of flak from MBIA’s PR efforts, but it paid off in the end. Apparently, he has unwound […]

    / Jan 26, 2009 at 12:25 PM
  • News

    TARP for MBIA?

    I’m sure there is someone less deserving of Treasury assistance than the likes of MBIA. There are, after all, still some felons out there that could use a couple extra million. Still, since everyone else is slurping at the bailout well, might as well throw in insurers. Right? MBIA, the largest U.S. bond insurer, and […]

    / Oct 24, 2008 at 1:56 PM
  • News

    Bond Insurer To Sue Hedge Fund For Speaking Truth?

    The following copy has been revised so as not to offend the delicate palates of a select few. These individuals were brave enough to speak up against the injustice I apparently inflicted on the English language with the previous version of this post (it contained two run-on sentences and the phrase “in my medical opinion,” […]

    / Aug 8, 2008 at 2:30 PM
  • News

    Update: Charlie Gasparino’s (Stomach Has) Got Something To Say

    Sooo. Moments after we announced our latest market moving experiment, inspired by the stomach rumblings of Charlie Gasparino, C to the G called us to “set the record straight.” Gasparino, who seemed a bit perturbed at Barron’s writer Jonathan Laing’s suggestion that he’d been fed the “Ambac or MBIA will be downgraded” story by Bill […]

    / May 12, 2008 at 3:15 PM
  • News

    Breaking News From Charlie Gasparino By Way Of The Nitrates Acting Up In His Stomach

    Barron’s has an article today about how even though no one knows anything about credit-default swaps, few people can resist speculating, the analysts in Charlie Gasparino’s lower abdomen included. Around 3 pm on January 30th the CNBC on-air editor said he “felt in his gut” that Ambac or MBIA or both would be downgraded. Nothing […]

    / May 12, 2008 at 2:28 PM
  • Bond Insurers

    Is Muni Bond Insurance A Racket?
    The Portfolio Gang Responds!

    Although it looks like MBIA is now out of the woods, rival bond insurer Ambac’s fate is still murky. Reports indicate that the ratings agencies are now considering the rescue plan worked out by banks and state insurance regulators. The plan may be revealed as early as this week, and will probably involve splitting Ambac […]

    / Feb 26, 2008 at 5:31 PM
  • News

    Dinallo’s Strong Arm Tactics

    Eric Dinallo, the former Spitzer aide who is now New York State’s insurance regulator, insists that the bond insurers are not on the verge of insolvency. But his plan to split the municipal bond business from the rest of their business only makes economic sense if it were necessary to save the companies and preserve […]

    / Feb 20, 2008 at 8:46 AM
  • Bond Insurers

    Bond Insurer Split: Worst Possible Outcome For Wall Street

    When he first approached Wall Street to explore plans to rescue bond insurers, New York state’s top insurance regulator Eric Dinallo warned top bankers that they had helped create the mess and that they were facing serious losses if something weren’t done. After weeks of negotiations with an assortment of senior Wall Street bankers failed […]

    / Feb 19, 2008 at 3:05 PM

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