Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 86.96

-0.2%

Nov 5 3:59 PM EST

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To: Hawkmoon who wrote (1193)	10/14/2010 7:02:21 PM
From: tejek	Read Replies (1) of 1428

I can tell you one thing.. my ABK was up HARD today!! MBI was as well... and so was RDN. They are up because they're banking on BAC and others not able to get their foreclosure papers in order. That means the monolines will save money and not have to pay out. I have been thinking of playing with PMI.....ABK is too spec for me....but this thing could turn on a dime. I think the media is making more out of this foreclosure snafu than there is. BAC, the bank, is messed up. I am not sure all lenders are in the same boat. The TBTFs are eventually going to be required to buy back those toxic mortgage based ABS.. I think it's inevitable now, what with all this political and legal clamoring on the issue. Could be. And any pain for the TBTF banks will eventually be to the benefit of the regional banks, IMO. I think the regionals are in better shape than the big banks and I agree they will benefit. That's why I have been trying to unload the last of my BAC. Very stupidly I took off the stop. UGH!

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