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Somehow, the Cooks secured the financial guarantees then needed for Jewish refugees to come to Britain.
Instead, he argues, there should be an international effort to give Pakistan security guarantees; then its military could be encouraged to push Taliban leaders to make a deal with the Afghan government, thus giving America a way out.
Further, as is often the case in the event of closure, we think some policyholders are likely to surrender their policies to the benefit of Old Mutual as guarantees then fall away".
If authorities can see a path to their being able to play such a role in a framework where their borrowing is based on confidence in their financial position, rather than primarily on federal guarantees, then this is obviously the preferred alternative.
If the private sector can't function without government guarantees then these should be made explicit and should be priced.
If you live in Florida, Massachusetts, Mississippi or Washington, which do offer guarantees, then this type of plan could be a good fit.
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"If there is no way to have such a guarantee, then they will probably be created nevertheless".
"If there's a 90 percent guarantee, then we are more aggressive to get the loan," he said.
Another Sunni member of the team, who requested anonymity, said: "If our security can be guaranteed then we will return".
"If there is a government guarantee, then it is not privately funded," said Robert Alan Feldman, chief economist at Morgan Stanley Dean Witter in Tokyo.
The deposit is wiped out, and the guarantee then pays out £14,250 – the 15% of the loan covered by the guarantee, less a 5% cut.
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