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Beginning in 1992, customers invested in Evergreen based on promises of government and mortgage-backed securities, interest rates of 9 to 12percentt and the privacy of an offshore account, prosecutors said.
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For Wall Street firms, cashing in on the property boom involved creating mortgage-backed securities — interest-bearing bonds that Lew Ranieri, a trader at Salomon Brothers, helped pioneer in the nineteen-eighties.
"They did auction-rate securities, interest-rate arbitrage, complex swaps — which backfired on them the same way it would backfire on any hedge fund or asset manager," said Clara Miller, chief executive of the Nonprofit Finance Fund, which has experienced a huge increase in organizations turning to it for assistance with soured bonds.
Hence a security interest gives the secured creditor a right of preferential satisfaction from the goods charged with the security interest.
There is a vital national security interest.
There's a national security interest.
Is [Libya] a vital national security interest?
There is a vital existential national security interest.
The core American national security interest is in defeating Al Qaeda.
The Middle East, protecting Israel, is in our national security interest".
"We believe it's in their security interest as well".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com