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Securities? Primer

Security \Se*cu"ri*ty\, n.; pl. Securities. [L. securitas: cf.
   F. s['e]curit['e]. See Secure, and cf. Surety.]
   1. The condition or quality of being secure; secureness.
      Specifically:
      (a) Freedom from apprehension, anxiety, or care;
          confidence of power or safety; hence, assurance;
          certainty.
          [1913 Webster]

                His trembling hand had lost the ease,
                Which marks security to please.   --Sir W.
                                                  Scott.
          [1913 Webster]
      (b) Hence, carelessness; negligence; heedlessness.
          [1913 Webster]

                He means, my lord, that we are too remiss,
                Whilst Bolingbroke, through our security,
                Grows strong and great in substance and in
                power.                            --Shak.
          [1913 Webster]
      (c) Freedom from risk; safety.
          [1913 Webster]

                Give up yourself merely to chance and hazard,
                From firm security.               --Shak.
          [1913 Webster]

                Some . . . alleged that we should have no
                security for our trade.           --Swift.
          [1913 Webster]

   2. That which secures or makes safe; protection; guard;
      defense. Specifically:
      (a) Something given, deposited, or pledged, to make
          certain the fulfillment of an obligation, the
          performance of a contract, the payment of a debt, or
          the like; surety; pledge.
          [1913 Webster]

                Those who lent him money lent it on no security
                but his bare word.                --Macaulay.
          [1913 Webster]
      (b) One who becomes surety for another, or engages himself
          for the performance of another's obligation.
          [1913 Webster]

   3. An evidence of debt or of property, as a bond, a
      certificate of stock, etc.; as, government securities.
      [1913 Webster]

   Syn: Protection; defense; guard; shelter; safety; certainty;
        ease; assurance; carelessness; confidence; surety;
        pledge; bail.
        [1913 Webster]
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Bally Files Bankruptcy for Second Time in 14 Months (Update3)

Published December 3, 2008, 12:21 pm, Bloomberg

Dec. 3 (Bloomberg) -- Bally Total Fitness Holding Corp. , the operator of 349 gyms in the U.S., filed for bankruptcy little more than a year after emerging from court protection with financing from hedge fund firm Harbinger Capital Partners.

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Becerra seen top candidate for Obama trade chief

Published December 3, 2008, 8:49 am, Reuters via Yahoo! News

California congressman Xavier Becerra appears to be a leading candidate to become President-elect Barack Obama's chief trade negotiator, U.S. business lobbyists said on Wednesday.

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Bally Total Fitness Files for Bankruptcy After Emerging in 2007

Published December 3, 2008, 6:53 am, Bloomberg

Dec. 3 (Bloomberg) -- Bally Total Fitness Holding Corp. , the operator of 400 gyms in the U.S., the Caribbean, Mexico, South Korea and China, filed for bankruptcy protection again, little more than a year after emerging from court protection.

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Class Action Demands Countrywide Repay Hedge Funds for Losses

Published December 2, 2008, 6:08 pm, Law.com

A New York litigation boutique filed a class action suit Monday against Countrywide Financial Corp. on behalf of investors in 374 securitization trusts that suffered losses due to Countrywide's $8.4 billion settlement with 15 states' attorneys general. Countrywide agreed in October to modify more than 50,000 largely adjustable rate mortgage loans, but plaintiffs lawyers say that substantially ...

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Elliot Smith Admits to Obstructing SEC Investigation (Update2)

Published December 2, 2008, 2:21 pm, Bloomberg

Dec. 2 (Bloomberg) -- Elliot Smith , a founding member of the Chicago Board of Options Exchange, pleaded guilty to criminally obstructing justice in a U.S. Securities and Exchange Commission investigation, prosecutors said.

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SIPC: Claims Forms Mailed to Lehman Brothers Inc. Customers and Creditors

Published December 2, 2008, 11:09 am, PR Newswire via Yahoo! News

The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, said that an estimated 925,000 claims forms have been mailed today to customers and creditors of Lehman Brothers Inc. (LBI).

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Consumer Reports: Cell Phone Service Improves

Published December 2, 2008, 10:51 am, PR Newswire via Yahoo! News

Verizon a Standout Carrier in Survey of 23 Cities; Five Ways to Cut Cell Bills

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Ford asks Congress for $9B line of credit

Published December 2, 2008, 10:16 am, AP via Yahoo! News

Ford Motor Co. is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it.

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Icahn Sues Leon Black"™s Realogy Over Debt Exchange (Update2)

Published December 2, 2008, 9:52 am, Bloomberg

Dec. 2 (Bloomberg) -- Billionaire investor Carl Icahn sued Leon Black ’s Realogy Corp., over claims the company’s planned $1.1 billion debt exchange is a fraudulent transfer of money that will only delay its inevitable failure.

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Icahn Sues Leon Black"™s Realogy Over Debt Exchange (Update1)

Published December 2, 2008, 8:06 am, Bloomberg

Dec. 2 (Bloomberg) -- Carl Icahn , the billionaire investor, sued Leon Black ’s Realogy Corp., owner of the Century 21 and Coldwell Banker brands, to block the company’s planned $1.1 billion debt exchange.

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