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MBIA Inc. Message Board

  • h_azarm h_azarm Jun 2, 2010 3:10 PM Flag

    Article 78 Hearings....



    I just confirmation that the hearing for MBIA’s appeal of Justice Yates’ denial of MBIA’s motion to dismiss the plenary/Debtor and Creditor Law case (with the same banks as the Article 78 Procedure as plaintiffs) is scheduled for this afternoon. The 5 judges of the Appellate Division that have been assigned to today’s hearing of our appeal are expected to issue their ruling in another 60 - 90 days.

    Shorts will be wiped out soon.

    This topic is deleted.
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    • Not only does he/she miss the point, Mr. H., he/she is also (like many) forgetting history.

      This whole scenario is "deja vu", shades of 2001-2003 in the post dotcom bubble bursting era. Hopefully, this time, there will be less wrist slapping and more indicting than happened in the Merrill-Lynch debacle of 2001-2003, which involved its "star", Henry Blodget, and InfoSpace.

      It was the same "trick"...Blodget calling InfoSpace a piece of crap in his emails, while at the same time he and his associates at Merrill were telling Merrill's clients to buy, buy, buy.

      That wound up with a $100 million fine for Merrill, a $5 million fine for Blodget, and after "other" Wall Street firms were investigated during that period, the total settlement reached $1.5 billion.

      Maybe this time, besides recompense for MBIA, there will be some jail time for these crooks.

      One can only hope.

      Thanks for the info about the court case, Mr. H.


    • It's only obscure to the sane people. There's one obsessed individual that thinks the world revolves around MBIA and his analysis of the Article 78 hearing. Sure hope it falls his way or he may go postal on his local town. It's a case study for OCD.

    • then how did you hear about it?

    • You won't see news reports until a decision is reached. A story about an obscure hearing taking place (that is only important to a relative few) isn't newsworthy to the public at large.

    • Thanks again, Mr. H. Now, we await some fairness in the court's dealings with MBIA. Hopefully, those hearing the case are not in GS's back pocket.

      What a pleasant experience MBIA's vindication will be.

      Again, thanks.


    • Wow, this is great news, thanks so much for all the research and the great info you share on a regular basis!!

      Shorts are probably getting increasingly desperate to cover. It may explain the weakness in the stock.

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