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Mr. Mulligan did not respond to questions about whether Mr. Madoff could have moved money or securities out of Fairfield Sentry's accounts without its approval.
First, it gives investors money while taking securities out of their portfolios, in hopes the investors will turn around and use the money to acquire other assets (an effect called "portfolio rebalancing").
The banks said in court filings that the split had transferred $5 billion in cash and securities out of MBIA's primary operating unit, the MBIA Insurance Corporation, to another entity, now known as the National Public Finance Guarantee Corporation.
Mr. Kaufman identified another important force propelling market volatility: Wall Street's obsession with making tradeable securities out of investments that previously would have sat on investors' or bankers' books until they came due.
Those units were damaged in recent years after A.I.G. took securities out of their investment portfolios and lent them to traders, a risky venture that ultimately led to big losses.
It is harder still to make securities out of such things as music royalties and patent licence fees.Most traditional securitisations involve cash flows that have been earned, but are not yet received; the main risk is that the cash will flow earlier or later than promised, or not at all.
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Lockbox -- This is where Vice President Al Gore said he would secure Social Security, "out of the hands of politicians".
Rent includes internet/WiFi, insurance for personal belongings, 24 hr security and out-of- hours wardens.
The public safety department said last week that the governor's security for out-of-state trips cost $486,904 in fiscal year 2011.
In such a climate, "immigration reform" focusing primarily on legalization and "border security" seems out-of-touch, if not dangerous.
The WHO presented instead data on government, private, external, social security and out-of-pocket expenditures on health for 193 countries.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com