Bank Of America To Buy MBIA Notes
To prevent MBIA Inc. (NYSE: MBI) from jeopardizing policyholder claims, Bank of America Corp. (NYSE: BAC) offered to purchase outstanding senior notes issued by the mortgage insurer. Shares of MBIA plunged $1.60 to close at $6.81 while Bank of America stock eased 6 cents to close at $9.33.
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