1. Mid-2010 post Courts dismissing the Case against MBIA re-structuring: $22.50-25;
2. Post Rating Upgrades and starting to write New Business Q1/2011: $45-50;
Reinstating its dividend mid-2011: $75-90.
People should bear in mind that MBIA is the largest Bond Insurer and its success was not the result of an accident, it was rather the result of a smart business model and second to none management despite being defrauded by the Banks on CDO/CDS products.