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MGIC may find itself on the auction block. 
 
MGIC the nation's largest PMI insurer, may very well find itself on the auction block soon.  The recent stock fall of MGIC and its sale of SHERMAN CAPITAL, and now possibly LITTON LOAN within the next 60 days, has made MGIC ripe for a take over.  The stock today nearing $20.00 begins to make it ripe for a take over.  I'm sure it's going further south in value, and when it does we will begin to see and hear of MGIC being taken over.
 
Blackstone has placed MGIC into a great position for a take over, I'm just not sure if that was the goal of Blackstone.  I think that would run against the investors desire!  I smell investor and stockholder suits coming against MAGIC. 
 
Remember MAGIC/CBASS/LITTON LOAN They all knew what was going on at Litton and CBASS, and profited very well from the "MANUFACTURED FORECLOSURES" in past years.  Now they are most likely be going to pay the price.
 
MGIC for sale?
 
 
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MGIC stock value has shaken investor and stockholder confidence in current leadership.  The "Bailout" of MGIC stock from large funds has accelerated within the bast few days.  Marking the end of confidence in leadership of the existing Board of Directors. 
 
Fat profits from CBASS and Litton Loan in the past have now turned to huge liabilities for MGIC and RADIAN.  Law Suits by victims and Class Actions have taken their toll.  With nothing to look forward to but continued litigation MGIC and RADIAN have placed their stockholders and investors into a "no win" situation.
 
Serious questions are now being raised about the "Management" of MGIC and how it oversaw companies like CBASS and LITTON LOAN.  After being warned by internal auditors from as early as 1998 in SEC filings, MGIC failed to apparently implement any oversight to correct or reduce the risk identified in the auditing statements.  Stockholders and Investors who have now suffered substantial losses are positioning themselves for litigation.
 
Additionally, MGIC  could face further litigation from those victims from Litton Loan and CBASS. 
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TommyD
Hey Gary listen and laugh...

MGIC Q3 2007 Earnings Conference Call 

http://web.servicebureau.net/conf/meta?i=1112975305&c=2343&m=was&u=/w_ccbn.xsl&date_ticker=MTG
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I just spent a few hours at the Bankruptcy court doing some research today. Man, you should see the sheer volume of Chapter 13s that have been filed over the last few years that involve Litton...Then just to fully knot my stomach I looked up Fairbanks and SPS, and Ocwen, EMC, Saxon and MERS.

There's a lot of work to be done out there...
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Thanks Tommy and Mike for your posts,  I smell real trouble ahead for these Officers and Directors.  Given enough time, energy, and ammunition, which Litton has been good enough to supply. 
 
I wonder how long Curt Culver is going to last?  Its very obvious that MGIC does not have a handle on their own problems.  But they are "Self Created"!
 
As I listen again to the MGIC interview I can't help to ask "What the hell are they thinking?"  Its beyond comprehension to me how out right "dumb" the Management of MGIC is.  But this is a corporation that has reaped huge profits from the "Equity Stripping" from CBASS and LITTON LOAN.
 
I just wonder what Curt is going to say at the end of next Quarter?  More of the same I expect.
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