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Entries tagged "MBIA"At MBIA, it's like old timesAlthough activist investor William Ackman has moved on, monoline insurer MBIA is facing another activist, Martin Whitman, who is using a courtroom rather than a boardroom to wage his battle. Rally was too good to lastAs the bulls return to the market, activist investor William Ackman's Deal Stocks suffer declines too. As Citi goes, so does the StreetNews of Citigroup's fortunes rising sends the bulls on a rampage, sending the Street and Deal Stocks higher for a change. Automakers stall on Wall StreetTHe markets continue to slide. Today, investors were spooked by continuing auto sales declines. The incredible shrinking economyAs more bad economic news piles up, the markets continue to tumble. Battered bond and mortgage insurers get boost from the HillBond insurers and mortgage insurers, which have taken big hits over the past year due to their wraps of toxic mortgages and soured mortgage-backed securities, got a boost Thursday on reports that Citigroup Inc. signed onto a deal with Senate Democrats that would allow bankruptcy judges to set new repayment terms for holders of mortgages. Might this be a step in the right direction toward lowering default rates? Bond insurance and mortgage insurance shareholders appear to believe so. ... FGIC deal sends MBIA shares upOnce again, the market breathed a sigh of relief Thursday as two major bond insurers improved their shaky financial position. Leading bond insurer MBIA Inc., which recently lost its AAA credit rating, agreed to reinsure $184 billion in municipal bonds for Financial Guaranty Insurance Co., the companies said in separate statements Wednesday. ... S&P ratings action ensure gains at bond insurersStandard and Poor's and its ratings agency peers have caused much heartache and pain among shareholders of the major bond insurers due to a mix of downgrades and negative reviews. But on Friday, Aug. 15, shareholders of the two largest monolines, MBIA Inc. and Ambac Financial Group Inc., had S&P to thank for significant stock gains. ... Ackman likely unhappy as bulls run up monolinesWhile the Dow Jones Industrial Average's 302.89 point gain to 11,734.32 on Friday may have put a little weekend spending cash in investors' pockets, activist investor Bill Ackman of hedge fund Pershing Square Capital Management LP may have a little less reason to celebrate as two of his short-selling targets, bond insurers MBIA Inc. and Ambac Financial Group Inc., each recorded double-digit gains over the past week on surprisingly strong earnings.... Bond insurers rally on Ambac CDO settlementAlways in need of a lift as they continue to take structured finance related hits, the bond insurers rallied Friday on news that No. 2 monoline Ambac Financial Group Inc. wiped one of its largest toxic structured finance exposure off of its books as it agreed to settle an unnamed counterparty's claims against a $1.4 billion collateralized-debt-obligation exposure in exchange for an $850 million cash payment. Ambac shares soared 50.40% on the news to close at $3.79 per share. Ambac in early June announced plans to launch a separate stable municipal bond-only entity, which has yet to materialize. ... Triple-A monolines: A dying breedA top triple-A credit rating is a rarity in the troubled world of the bond insurers these days. And the few that still hold onto one are threatened with having it pulled out from under them. The newest on Moody's Investors Service ratings watch list: Assured Guaranty Corp. and Financial Security Assurance Inc., or FSA. ... Labor group worried that MBIA's troubles could hurt pensionersThe Labor Council for Latin American Advancement is concerned MBIA Inc.'s renege on plans to downstream $900 million in capital toward its battered bond insurance business, and rather hold the money for a later date to potentially use it to capitalize a new municipal debt insurance subsidiary, could hurt pensioners that hold MBIA insured bonds. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "MBIA." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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