Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CORSO CLIFFORD D
   2. Issuer Name and Ticker or Trading Symbol
MBIA INC [mbi] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
(Last)
(First)
(Middle)
C/O MBIA INC., 113 KING STREET		 3. Date of Earliest Transaction (Month/Day/Year)
05/07/2010
(Street)

ARMONK, NY 10504		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 48.58 05/07/2010   D     6,345   (1) 12/12/2010 Common Stock 6,345 (2) 0 D  
Employee Stock Option (right to buy) $ 52.81 05/07/2010   D     7,000   (3) 02/07/2012 Common Stock 7,000 (2) 0 D  
Employee Stock Option (right to buy) $ 36.69 05/07/2010   D     7,000   (4) 02/12/2013 Common Stock 7,000 (2) 0 D  
Employee Stock Option (right to buy) $ 64.84 05/07/2010   D     7,000   (5) 02/10/2014 Common Stock 7,000 (2) 0 D  
Employee Stock Option (right to buy) $ 55.6 05/07/2010   D     60,000   (6) 06/09/2014 Common Stock 60,000 (2) 0 D  
Employee Stock Option (right to buy) $ 58.84 05/07/2010   D     30,000   (7) 02/16/2015 Common Stock 30,000 (2) 0 D  
Employee Stock Option (right to buy) $ 12.5 05/07/2010   D     400,000   (8) 03/28/2015 Common Stock 400,000 (2) 0 D  
Employee Stock Option (right to buy) $ 4.02 05/07/2010   D     350,000   (9) 02/12/2016 Common Stock 350,000 (2) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CORSO CLIFFORD D
C/O MBIA INC.
113 KING STREET
ARMONK, NY 10504		       Executive Vice President  

Signatures

 /s/Andrew Hughes, Attorney-in-Fact   05/10/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Options granted on 12/12/2000 with 5 year gradual vesting: 40% on second anniversary, 20% each on third, fourth and fifth anniversary of grant date.
(2) Stock options cancelled in connection with an award to the reporting person of equity participation units in Cutwater Holdings, LLC under the Cutwater Asset Management Equity Participation Plan, adopted by the Board of Managers of Cutwater Holdings, LLC on May 7, 2010. A total of 867,345 stock options as reported herein were cancelled, having an estimated aggregate value of $1,711,900. The reporting person received an estimated value of $2,450,500 of equity participation units in Cutwater Holdings, LLC (reflecting the estimated value of the reporting person's cancelled stock options and a long-term equity incentive award for the 2009 performance year).
(3) Options granted on 2/7/2002 with 5 year gradual vesting: 40% on second anniversary, 20% each on third, fourth and fifth anniversary of grant date.
(4) Options granted 2/12/2003 with 5 year gradual vesting: 40% on second anniversary, 20% each on third, fourth and fifth anniversary of grant date.
(5) Option granted on 2/10/2004 with 5 year gradual vesting: 40% on second anniversary, 20% each on third, fourth and fifth anniversary of grant date.
(6) Options granted on 6/9/2004 with 5 year cliff vesting: 100% on fifth anniversary of grant date.
(7) Options granted 2/16/2005 with 5 year gradual vesting: 40% on second anniversary, 20% each on third, fourth and fifth anniversary of grant date.
(8) Options granted 3/28/2008. Performance based award which vests in incremental amounts based on share price. Vested options are exercisable from 3/28/2013 to 3/28/2015.
(9) Options granted 2/12/2009 with 5 year cliff vesting: 100% on fifth anniversary of grant date.

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