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A former Bear Stearns worker, who negotiated such settlements between it and originators, said: "I was the messenger of the bad news.
"Investors hoping to put back the loans for deficient underwriting under reps and warranties would end up going back to the originators," said Josh Rosner, an analyst at Graham Fisher & Company and an authority on mortgage-backed securities.
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But the new prize also sends an inevitable political message, which its originators say is unintended.
Kelpak first appeared in 1983 and the originators say it is made from Ecklonia maxima by a cell-burst procedure that does not involve the use of heat, chemicals or dehydration.
"He's an original and an originator," said Robert Shrum, a Democratic strategist who also worked with Mr. Garth.
Jonathan Kirschenfeld, a private architect and the idea's originator, said that Riverside Park would be the ideal site for the barge, which would hold an open-air movie theater and performance and event space with room for 400 to 500 people.
The originator said she thought it would be her and a few of her friends.
It is if you go by what the media and the concept's originator says.
When a generic manufacturer seeks approval to market a copy of a brand-name drug, it also often files a lawsuit challenging a patent that the drug's originator says prevents competition.
Most successful markets have had a lawyer and a tax break acting as midwives.The securitisation markets depend on laws that ensure the assets mortgages and other loans that produce cash flows for investors are "bankruptcy remote" so that a default by a mortgage originator, say, does not trap them in the bankruptcy process.
"Consumers will be in touch with better-educated originators," he said.
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CEO of Professional Science Editing for Scientists @ prosciediting.com