ORI corporate has no intentions of giving the diseased entities any more capital. The MI business can go under as far as I'm concerned. The MI piece is in de facto bankruptcy now. A bankruptcy court would control the cash flow and allocate resources, just like NC is now.
If they pulled the plug on it, we'd find out once and for all if ORI corporate had any hidden liabilities. I don't think they do - I think the MI obligations would die with it. Which is why IMO regulators will keep in in runoff. But if they go into bk, let it happen.
I think the market took a look at MTG today and thought Aldo made the right choice to abandon that business. ORI was threatening to go green most of the day. If you start looking at the stock technically, it's starting to appear that we've bottomed. With a major selloff earlier in the day and the hideous MTG news, if people were looking for a reason to dump ORI shares, it would have happened today.