MBIA’s Loss Saga Continues (revised)
Bond insurer MBIA Inc. (NYSE:MBI) reported an adjusted first-quarter pre-tax loss of $548 million or $3.23 per share, in stark contrast to adjusted pre-tax income of $25 million in the prior-year quarter. The loss during the quarter resulted from losses on insured exposures, realized losses from sales and impairments of investments, and legal and litigation-related [...]
Bond insurer MBIA Inc. (NYSE:MBI) reported an adjusted first-quarter pre-tax loss of $548 million or $3.23 per share, in stark contrast to adjusted pre-tax income of $25 million in the prior-year quarter. The loss during the quarter resulted from losses on insured exposures, realized losses from sales and impairments of investments, and legal and litigation-related costs and expenses.
Net income came in at $10 million, or 5 cents per share, compared with a net loss of $1.3 billion, or $6.37 per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards