8-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): December 3, 2008 (December 1, 2008)

MBIA INC.
(Exact name of registrant as specified in its charter)

Connecticut	1-9583	06-1185706
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

113 King Street, Armonk, New York	10504
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:
914-273-4545

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02.  Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

(d) Election of Director.

On December 1, 2008, the Board of Directors of MBIA Inc. (“MBIA”) elected Charles R. Rinehart as a member of MBIA's Board of Directors.  In September 2008, Mr. Rinehart joined Downey Financial Corp. and Downey Savings and Loan Association, F.A. as Chief Executive Officer and as a director of both of these entities.  Mr. Rinehart retired from HF Ahmanson & Co. and its principal subsidiary, Home Savings of America in 1998. Mr. Rinehart joined HF Ahmanson in 1989 and shortly thereafter was named President and Chief Operating Officer. He was named Chief Executive Officer in 1993 and also became Chairman in 1995 and served in these roles through 1998. Prior to joining H.F. Ahmanson, Mr. Rinehart was the Chief Executive Officer of Avco Financial Services from 1983 to 1989 and before that served in various positions of increasing responsibility at Fireman’s Fund Insurance Company.  He is also a director and non-executive Chairman of Verifone Holdings, Inc.  

MBIA’s Board of Directors has determined in accordance with the independence standards set forth in the MBIA Inc. Board Corporate Governance Practices that Mr. Rinehart is an Independent Director.  In addition, Mr. Rinehart meets the definition of “Independent Director” set forth in the New York Stock Exchange Corporate Governance Listing Standards.  The MBIA Inc. Board Corporate Governance Practices can be found on MBIA’s website, www.mbia.com.    

Item 9.01.  Financial Statements and Exhibits.

(c) Exhibits.

99.1     Press Release issued by MBIA Inc. dated December 1, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		MBIA INC.
		By:	/s/ Ram D. Wertheim
			Ram D. Wertheim
			Chief Legal Officer
Date:	December 3, 2008

EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
Dated December 3, 2008

Exhibit 99.1 Press Release issued by MBIA Inc. dated December 1, 2008.

EX-99.1

Exhibit 99.1

Charles R. Rinehart Elected to MBIA’s Board of Directors

ARMONK, N.Y.--(BUSINESS WIRE)--December 1, 2008--MBIA Inc. (NYSE: MBI) announced today that Charles R. Rinehart (61) was elected to MBIA’s board of directors. Mr. Rinehart is the former Chairman and Chief Executive Officer of H.F. Ahmanson, a publicly traded Fortune 500 company that was sold to Washington Mutual Bank in 1998. Mr. Rinehart joined H.F. Ahmanson in 1989 as President and Chief Operating Officer and was appointed CEO in 1993. Prior to joining H.F. Ahmanson, Mr. Rinehart was the Chief Executive Officer of Avco Financial Services and before that served in various positions of increasing responsibility at Fireman’s Fund Insurance Company. In September 2008, Mr. Rinehart joined Downey Financial Corporation and Downey Savings and Loan Association, F.A. as Chief Executive Officer.

MBIA Nominating/Corporate Governance Committee Chair Claire Gaudiani said, "Charlie is a respected business leader with over 40 years of experience in the financial services industry. His expertise in banking and insurance will benefit MBIA and its shareholders, particularly as we work to transform the Company for future success. We are pleased to welcome Charlie to MBIA’s board.”

In addition to his significant executive management experience, Mr. Rinehart brings with him extensive experience as a director. He is currently the Chairman of the Board of Verifone, Inc., and over the years has been a respected board member of H.F. Ahmanson Company, Union Bank of California, Safeco Insurance Company of America, Pacificare Health, homebuilder Kaufman and Broad Corporation and the Federal Home Loan Bank of San Francisco. He was also a past Chairman of the Thrift Industry Advisory Council to the Federal Reserve.

Forward-Looking Statements

This release contains statements about future results that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are not guarantees of future performance. There are a variety of factors, many of which are beyond MBIA's control, which affect the operations, performance, business strategy and results and could cause its actual results to differ materially from the expectations and objectives expressed in any forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. MBIA does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements are made. The reader should, however, consult any further disclosures MBIA may make in its future filings of its reports on Form 10-K, Form 10-Q and Form 8-K.

MBIA Inc., headquartered in Armonk, New York is a holding company whose subsidiaries provide financial guarantee insurance, fixed-income asset management, and other specialized financial services. The Company services its clients around the globe, with offices in New York, Denver, San Francisco, Paris, London, Madrid, Mexico City, Sydney and Tokyo. Its principal operating subsidiary, MBIA Insurance Corporation, is rated Baa1 by Moody's Investors Service with a developing outlook and AA by Standard & Poor's Ratings Services with a negative outlook. Please visit MBIA's Web site at www.mbia.com.

CONTACT:
MBIA
Media:
Kevin Brown, +1-914-765-3648
or
Elizabeth James, +1-914-765-3889
or
Investor Relations:
Greg Diamond, +1-914-765-3190