This is why the practice of finning at sea is used - it allows vessels to harvest the valuable asset, dump the remaining carcasses, leaving storage space for more economically valuable fish stock.
Mr. Wheeler's job will be to find a way to finance the assets dumped into his bank through separate lenders and equity investors.
Tougher capital requirements mean that trading desks of banks are now less keen to buy and hold assets dumped by investors: that will only make bond prices more volatile.The most vulnerable countries are those that rely on foreign capital to bridge the gap between what they spend and what they earn (see chart 1).
A few floors above, workers are bent over computer screens preparing bids for chunks of $600 million in assets dumped by two imploded financial firms.
At the same time Obama should suspend or eliminate current mark-to-market accounting rules, which in reality make no distinction between the value of assets dumped during a time of distressed markets and their value in calmer markets.
His mass asset dump is certainly faster and more efficient in delivering a whopping return to shareholders than EOP's formerly announced plan to sell off some $3 billion in assets over 18 to 24 months.
The course of action chosen by the directors – a "pre-pack" administration – is controversial because of the secrecy involved, and because buyers can cherry-pick assets while dumping liabilities.
Now, "clandestine human intelligence involves showing up in a Land Cruiser with some [former] Deltas or SEALs, picking up an asset and then dumping him back there when you are through," said a former CIA officer who worked closely with the security group overseas.
Once the assets are "dumped," the price falls and investors lose money.
Mr Hester has used the same mechanism as Citigroup, creating a non-core division into which the nastiest assets are dumped and wound down.
Concerns about a slowdown, compounded by fears of an escalation of the US-China trade war, have prompted them to move into defensive assets and dump shares, a report by Bank of America Merrill Lynch (BAML) said.
