Dec 13, 2011
MBIA, Morgan Stanley Reach Accord in Multibillion-Dollar Credit Crisis Showdown
In the high-stakes litigation challenging its 2009 restructuring, MBIA has reached a major settlement with Morgan Stanley. But for some of MBIA’s Wall Street adversaries, the notion that MBIA had to rely on a loan to fund part of the settlement vindicates their claims that the insurer’s restructuring was a fraud.