Someone has to guarantee that they are adequately collateralized.

MUNICH Once upon a time, stocks were risky and collateralized securities were safe.

Loans would be provided by other EU countries if necessary, taking the form of covered state bonds collateralized with privatizable state assets.

This means no cross border sovereign debt (or esoteric instruments, such as collateralized debt obligations).

Nomura Security Co., Ltd. (2004). Arrangement of Korean collateralized bond obligation. Press release (8 December).

Just as there was a time when collateralized securities were safe, there was also a time when economies with so much state intervention were called socialist.

In order to prevent sinners from getting caught in a debt trap, the fines could take the form of covered bonds collateralized with privatizable state assets.

The trick was to offer banks the opportunity to swap their claims on (insolvent) Latin American countries into long maturity, low coupon bonds that were collateralized with US Treasuries.

What started with subprime mortgages spread to all collateralized debt obligations, endangered municipal and mortgage insurance and reinsurance companies and threatened to unravel the multi trillion dollar credit default swap market.

Investment banks then earn fees for re packaging these securities in tranches of collateralized debt obligations, or CDO s (and sometimes into CDO s of CDO s).

Even so, the explosion in the quantity of collateralized debt obligations and similar securities went far beyond what was needed to sustain mortgage lending.

The prices of structured securities such as collateralized debt obligations have come down, because the institutional fraud of a multi fold chain of securitizations has been detected.

MUNICH Once upon a time, stocks were risky and collateralized securities were safe. That time is over, as the breakdown of the American mortgage securitization market has shown.

The just collapsed credit bubble, fueled by so called special investment vehicles, derivatives, collateralized debt obligations, and phony triple A ratings, was built on the illusions of mathematical modeling.

Collateralized debt obligations (CDOs, mainly tied to mortgages) made a new population of aspiring homeowners supposedly creditworthy by enabling the originating banks to sell sub prime debt to other investors.

Further, should such items (both movable and immovable property) be mortgaged or collateralized, provisions of the Moveable and Immovable Property Act of the Kingdom of Bhutan, 1999 shall be applied accordingly.

Finally, solvency rules should be complemented by an obligation that banks issue a substantial amount of non collateralized debt on the order of 100 of their capital that is convertible into equity.

To be sure, they will help to prevent banks from using instruments resembling collateralized debt obligations (which banks use to repackage individual loans for placement on secondary markets) to reduce their exposure.

CHICAGO It is universally recognized that a key factor underlying the 2007 2008 financial crisis was the diffusion of collateralized debt obligations (CDOs), the infamous special purpose vehicles that transformed lower rated debt into highly rated debt.

This synthetic collateralized debt obligation (CDO) did not finance the ownership of any additional homes or allocate capital more efficiently it merely swelled the volume of mortgage backed securities that lost value when the housing bubble burst.

Making the necessary modifications is a delicate task rendered more difficult by the fact that many mortgages have been sliced up and repackaged in the form of collateralized debt obligations. The holders of the various slices have conflicting interests.

Indeed, the much vaunted market for collateralized debt obligations, which divides risks into tranches and places the different risk levels in different places according to the willingness to accept them, has plausibly played a role in boosting asset prices.

Delinquencies, defaults, and foreclosures are now spreading from sub prime to near prime and prime mortgages. Thus, total losses on mortgage related instruments include exotic credit derivatives such as collateralized debt obligations (CDOs) will add up to more than 400 billion.

For years, hundreds of billions of new mortgage backed securities (MBSs) and collateralized debt obligations (CDOs) generated from them were sold to the world to compensate for the lack of savings in the United States and to finance American housing investment.

The investment banks blended these securities into asset backed securities and collateralized debt obligations (CDOs) and sold them on to financial institutions throughout the world. These institutions, attracted by the high rates of return that were promised, invariably neglected the downside risks.

The entire sub prime market is largely a decade old innovation the word sub prime did not exist in any language before 1994 built on such things as option adjustable rate mortgages (option ARM s), new kinds of collateralized debt obligations, and structured investment vehicles.

Rumor has it that the ECB is poised to adjust its approach and soon. It knows that its argument that the ELA loans are collateralized is wearing thin, given that, in many cases, the collateral has a rating below BBB , thus falling short of investment grade.

It will be as with the people, so with the priest as with the servant, so with his master as with the maid, so with her mistress as with the buyer, so with the seller as with the creditor, so with the debtor as with the taker of interest, so with the giver of interest.

And it shall be, as with the people, so with the priest as with the servant, so with his master as with the maid, so with her mistress as with the buyer, so with the seller as with the lender, so with the borrower as with the taker of usury, so with the giver of usury to him.

David and all Israel played before God with all their might, even with songs, and with harps, and with stringed instruments, and with tambourines, and with cymbals, and with trumpets.

And David and all Israel played before God with all their might, and with singing, and with harps, and with psalteries, and with timbrels, and with cymbals, and with trumpets.

and spoke to them, saying, Return with much wealth to your tents, with very much livestock, with silver, with gold, with brass, with iron, and with very much clothing. Divide the spoil of your enemies with your brothers.

Yahweh will strike you with consumption, and with fever, and with inflammation, and with fiery heat, and with the sword, and with blight, and with mildew and they shall pursue you until you perish.

Thus p contrasts with pʰ , t with tʰ , k with kʰ , and the affricate t ʃ with t ʃʰ .

They swore to Yahweh with a loud voice, and with shouting, and with trumpets, and with cornets.

And he spake unto them, saying, Return with much riches unto your tents, and with very much cattle, with silver, and with gold, and with brass, and with iron, and with very much raiment divide the spoil of your enemies with your brethren.

with pictures, with travel tips.

He shall cleanse the house with the blood of the bird, and with the running water, with the living bird, with the cedar wood, with the hyssop, and with the scarlet

Some with serious remarks, a few with questions and some with irony.

Earth was associated with the cube, air with the octahedron, water with the icosahedron, and fire with the tetrahedron.

And they sware unto the LORD with a loud voice, and with shouting, and with trumpets, and with cornets.

The LORD shall smite thee with a consumption, and with a fever, and with an inflammation, and with an extreme burning, and with the sword, and with blasting, and with mildew and they shall pursue thee until thou perish.

We were experimenting with type, with illustration, with photos. And we had fun.

with all lowliness and humility, with patience, bearing with one another in love

They deck it with silver and with gold they fasten it with nails and with hammers, that it not move.