Of the latest $3.8 billion, the Treasury said $2.54 billion would be converted into preferred securities, which would be senior to other capital securities, and $1.25 billion would be converted into preferred stock.
The more of their lumpish loans that are converted into liquid securities, the higher the profits that accrue to the middlemen, the investment banks.
The temptation is to think that these bases can be converted into maximum-security prisons, but that is unlikely to work because of security considerations.
For Machiavelli, cruel and unusual measures were to be used only out of necessity, to be ended quickly, and to be converted into benefits (safety, security, wealth) for the prince's subjects.
He and his partner are travelling over the water to a scarily forbidding prison called Shutter Island, a former civil-war fortress that has been converted into a maximum security facility for the criminally insane, and Teddy has reason to suspect that his wife's murderer is being kept here.
Should the rebuilt World Trade Center be converted into a semi-militarized security zone?
He added that the situation in Caracas had been "converted into a problem of security and public order that had put the lives of citizens in danger".
Each solar power system is in effect converted into a fixed income security; financial services firms like Goldman Sachs make the investment, while customers who could not otherwise afford to put up solar panels are empowered to consume.
Mr. Farley used the $26 million loan to buy back debt securities that converted into Fruit of the Loom stock.
The company paid an interest rate that was at the low end of expectations, enhancing demand by promising to make at least three years of interest payments even if the securities are converted into shares.
