Furthermore, it was using a non-marketable instrument (the promissory notes) to provide collateral against these loans.

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To turn to a specific, currently relevant example, if fixed-interest bonds are bad, but equity investments are acceptable, then what if an investor buys a non-voting equity instrument whose return is based on profit shared between him and the venture--with any profit above 6% given to the venture as a "reward"?

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Until this summer, the London Interbank Rate Offering Rate (LIBOR) was an omnipresent seemingly esoteric instrument that few non-financial people actually paid attention to other than knowing that their interest rate was somehow linked to it.

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The only way around this simple fact is to discard any notion of non-discriminatory taxation and equal treatment under the law and design the tax code as a punitive instrument to redistribute income.

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Given the current valuation of Tri-Tech Holding in the capital market, we chose the corporate bonds instrument from the domestic market and believe this will efficiently fund our operations on a non-dilutive manner that is in the best interests of our shareholders.

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