As I stated in The Art of Theft speech, I am not aware of any pension, not even the largest, that has adequate procedures in place to prevent and detect fraud related to all the various parties that have a hand in managing the assets.

FORBES: The Growing Scrutiny of Pensions ( August 22, 2005)

On the other hand, a secured bond is a bond in which specific assets are pledged to bondholders if the company cannot repay the obligation.

FORBES: 5 Basic Things To Know About Bonds

On the one hand, the ratio of capital to assets would be boosted very significantly in "good" RBS, because some loans and investments with very high risk weights (in the jargon) would have been detached.

BBC: Should the Treasury keep 'bad' RBS?

On the one hand, this split separates the toxic assets, whose value is very uncertain, in an institution that has no insured or guaranteed liabilities and poses no systemic risk.

WSJ: Banks Need Fewer Carrots and More Sticks

On the other hand, weakening consumer credit in America and uncertainty over its exposure to off-balance-sheet assets will add to the subprime worries.

ECONOMIST: Sovereign-wealth funds