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MBIA

Tactical Update

By |2013-04-15T02:50:22-04:00April 14th, 2013|Markets|

This "recovery" is in its 4th year.  Unfortunately, we have yet to see robust growth in employment or incomes.  The recovery continues to be about low interest rates and abundant liquidity.  Cheap debt capital benefits equity owners.  Whether real or nominal, as revenues grow and the cost of capital becomes cheaper, the benefits flow to equity owners. Companies are not [...]

Bank Of America Settles With Fannie Mae

By |2013-01-07T08:40:12-05:00January 7th, 2013|Markets|

Bank of America reached a settlement with Fannie Mae concerning mortgages originated by Countrywide: (via CNNMoney) Bank of America has reached a $10.3 billion settlement with Fannie Mae to deal with questionable home loans it sold to the government-backed mortgage financer during the housing bubble. BofA (BAC, Fortune 500) will pay $3.55 billion in cash to Fannie as part of the deal. It [...]

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