FT.com - Sherman McCoy, the fictional 1980s "Master of the Universe" Wall Street bond trader, had his sights set on a deal which could earn him $1.7m in commission payments, money he needs to pay off the mortgage on a lavish Park Avenue apartment.

--- FT.com ...

AFP - Bank of China said it had posted 26.3 billion yuan (3.8 billion dollars) in potential losses on assets at the end of September, partially related to US subprime mortgage-backed securities.

--- AFP ...

Reuters - Former Fannie Mae Chief Executive Daniel Mudd wished he said "no" to more of the things the company was asked to do, he told the Wall Street Journal in an interview.

--- Reuters ...

The Motley Fool - Trusts are impressively flexible, offering many ways for people to use them. Revocable trusts can encompass many people's entire estate-planning needs in a single document. On the other hand, professionals have tailored some types of trusts to fit very specific situations and types of assets. The life insurance trust, primarily designed to hold life insurance policies, is a prime example.

--- The Motley Fool ...

The Motley Fool - Since at least the time of the Roman Empire, wills have been used to ensure the orderly transfer of property from generation to generation. While the popular image of making a will often involves someone in a grave situation -- on the eve of battle, perhaps, or suffering from a terminal illness -- wills can be drawn up at any time, and they do provide a good way for people to state their wishes regarding who should receive their property after their death.

--- The Motley Fool ...

The Motley Fool - Trusts were first used in medieval England, and they have evolved to serve many purposes in modern law. The essential attribute of a trust is that it divides ownership of property into two pieces. One person, the trustee, holds the legal aspects of ownership and may control and take responsibility for the property. Another person, the beneficiary, holds the sole right to enjoyment of the property.

--- The Motley Fool ...