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On the other hand, one could transfer all the properties to a Custodian, rent them to the former owners at an affordable index-linked rental, "unitise" the resulting rental pool, and sell the Units to risk averse investors.

The bank replaces a dated obligation to repay a secured loan with an undated (quasi-Equity) obligation to pay a "Capital Rental" and so the credit event insured against (default) disappears with the secured loan.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Mon Mar 2nd, 2009 at 02:12:17 PM EST
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