Use access key #2 to skip to page content.

TMFBent (99.85)

Proof that MBIA is Dead Meat

Recs

7

February 13, 2008 – Comments (3) | RELATED TICKERS: MBI , ABKFQ

Now, it's complaining about those pesky short sellers. Plans to ask lawmakers to do something about it.

Yup, the guys who helped construct the elaborate credit Ponzi scheme that's now crippling certain parts of our economy, they're whining to lawmakers that they're too important to fail, and as such, short sellers (who have been right, in spades) about their lousy businesses, shouldn't be allowed to testify before congress.

Oh, and better yet, lawmakers need to bail 'em out, they say.

Lawmakers must support capital raising efforts of the bond insurers, because failure could have "far-reaching effects on the U.S. and global economies," MBIA wrote.

Punks.

3 Comments – Post Your Own

#1) On February 13, 2008 at 11:37 PM, dwot (99.55) wrote:

I saw that...

$2.4 trillion dollars of just try and collect insurance.

Report this comment
#2) On February 13, 2008 at 11:53 PM, Tastylunch (29.93) wrote:

Funny, when I ask the city to bail me out when we have slow sales which has far-reaching effects on my personal economy and love life, they don't usually respond. Perhaps I should insure bonds instead.... :-)

Report this comment
#3) On February 14, 2008 at 2:21 AM, PDTBiotech (94.76) wrote:

More evidence: August '08 option series with the most open interest is the 5 puts, with over 21k contracts open vs. <7k for the 30 calls, which have the highest call open interest.  B/A/L for the 5 puts is 1.00/1.25/1.05 right now, while the 30 calls are at 0.15/0.40/0.35, for the record.  Will be interesting to watch, given that MBI raised $1.1B today from a secondary offering priced at $12.15/share.  Sounds like “the unscrupulous and dangerous market manipulation of long-buyers.”

Analyst EPS estimates for 2009:

90 days ago: 5.77

60 days ago: 7.28

30 days ago: 5.01

7 days ago: 1.02

Current: -0.02

 

 

Well they're building a gallows outside my cell I've got 25 minutes to go
And the whole town's waitin' just to hear me yell I've got 24 minutes to go
Well they gave me some beans for my last meal I've got 23 minutes to go
But nobody asked me how I feel I've got 22 minutes to go
Well I sent for the governor and the whole dern bunch with 21 minutes to go
And I sent for the mayor but he's out to lunch I've got 20 more minutes to go
Then the sheriff said boy I gonna watch you die got 19 minutes to go
So I laughed in his face and I spit in his eye got 18 minutes to go
Now hear comes the preacher for to save my soul with 13 minutes to go
And he's talking bout' burnin' but I'm so cold I've 12 more minutes to go
Now they're testin' the trap and it chills my spine 11 more minutes to go
And the trap and the rope aw they work just fine got 10 more minutes to go
Well I'm waitin' on the pardon that'll set me free with 9 more minutes to go
But this is ain't the movies so forget about me got 8 more minutes to go
With my feet on the trap and my head on the noose got 5 more minutes to go
Won't somebody come and cut me loose with 4 more minutes to go
I can see the mountains I can see the skies with 3 more minutes to go
And it's too dern pretty for a man to wanna die 2 more minutes to go
I can see the buzzards I can hear the crows 1 more minute to go
And now I'm swingin' and here I go-o-o-o-o-o-o-o-o-o!

Report this comment

Featured Broker Partners


Advertisement