By Mike Taylor 12/08/10 5:37pm

This Old House

MBIA Hits Up Morgan Stanley in Mortgage Beef

Bond insurer MBIA has deployed its lawyers against Morgan Stanley in the latest case of potentially bogus mortgage securities coming back to bite big banks. MBIA is saying that Morgan fibbed about the quality of mortgage securities the company insured for $223 million, and that MBIA has already paid more than $71 million in claims. Read More

By Mike Taylor 8/31/10 12:53pm

Uncle Moneybags

In Our New Economy, Even Monopolists Will Struggle

A complete stranglehold over an entire industry just isn’t what it used to be.

After lovable billionaire philanthropist and rapacious capitalist warrior Warren Buffett exited the muni-bond insurance game in 2009, fellow billionaire Wilbur Ross has become the sole major investor in insurance of the $2.8 trillion market for American municipal debt. Holding 16 million Read More