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Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (1204)	10/25/2010 9:26:58 AM
From: Hawkmoon	Read Replies (3) \| Respond to of 1428

I'm telling you guys.. buy the monolines.. They are going to get some "payback" for all the mortgage insurance fraud that has been perpetrated against them: In the MBIA case, the judge has ruled that the suit can proceed even though BAC has denied responsibility. Although on appeal, this is high-stakes poker. Countrywide originated over $1.4 trillion of mortgages in 2005-2007. MBIA alleges that over 90% of the defaulted or delinquent loans in the Countrywide securitizations show material discrepancies. Care to take the under in the over/under bet on that? minyanville.com At the very least, they will have the ability to deny a large percentage of claims, which should release Billions in reserves they have had to set aside for covering those expected losses. I favor ABK, as it's the most beaten down of the sector, and therefore has the most ground to make up towards recovery. Here's the primary link that addresses the monolines: Hawk