Tax on interest

Michael Pollak mpollak at panix.com
Thu Feb 13 20:59:06 PST 2003


On Thu, 13 Feb 2003 Nomiprins at aol.com wrote:


> Many of the loans or credit facilities extended to these companies were
> collateralized at least partially by stock with attached trigger levels

I'm sure I'm continuing to be a naif, but wasn't this illegal under Glass-Steagal back when we had a Glass-Steagal? I mean if banks can't own stock as an asset, how can it be legal to own a stock-backed asset?

Michael



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