Where does Hawking Radiation fit into all of this? My understanding of black holes is as follows:
Star collapses, core atoms compacted so close the gravity of the object overcomes magnetic fields repelling the atoms apart. All the incy bitty particles get excited so fast that they eventualy zoom out past the event horizon, becoming "Hawking Radiation"; losing mass in this way and shrinking. When the black hole loses enough mass, the magnetic fields reclaim dominance and fling the sucker apart. Pretty fireworks ensue.

I'm not a proponent of dark matter, and i'm against the "constant light theory", which results in the "Universal Speed Limit". Still, I may seem a bit ignrant, so could you please specify more details on the parts I don't seem to understand in your opinion?