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[QUOTE]Originally posted by BooDog: [QB] watch MTG No One Wants It, But We Need Some Failures By Jim Cramer About this article: MGIC reports a hideous, monster loss and what happens? It issues a statement saying it has "adequate capital to meet its claim obligations" and that there have been "significant improvements to the company's business fundamentals." This despite recognizing that it cannot make money in 2008. IndyMac says yesterday that it has all the capital in the world despite a monumental quarterly loss and a suspension of dividend, It, too, has oodles of capital. Both companies, the Alt-A bank of IndyMac and the mortgage insurer MGIC, have non-performing loan numbers that would make me wonder how the heck they can stay in business. But things are going swimmingly, they both say. This stuff is amazing to me. In 1990, both of these companies wouldn't have a dime of funding and would be annihilated, gone, bankrupt. No way they could make it. But in this environment, nobody fails, nobody merges,... [URL=http://secure2.thestreet.com/cap/login/rm_mbp_msn_july07_v2.jsp?cm_ven=YAHOO&cm_cat=PREMIUM&cm_ite=003190&flowid=72d7296f71&url=http%3A%2F%2Fwww.thestreet.com%2Fp%2F_yahoo%2Frmoney%2Fjimcramer****%2F10403247.html]http://secure2.thestreet.com/cap/login/rm_mbp_msn_july07_v2.jsp?cm_ven=YAHOO&cm_ cat=PREMIUM&cm_ite=003190&flowid=72d7296f71&url=http%3A%2F%2Fwww.thestreet.com%2 Fp%2F_yahoo%2Frmoney%2Fjimcramer****%2F10403247.html[/URL] [/QB][/QUOTE]
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