The dealer often knows, or can guess, which side of the deal the bank's customer is on.

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But is either side really interested in a deal or simply trying to avoid taking the blame if talks fall through?

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In the mid-1990s, Bill Clinton resuscitated and negotiated a side-deal designed to fix, or at least obscure, what Mr. Reagan found objectionable.

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But there are other ways to get noticed: being on the other side of a business deal with a company or on a high-profile charity board.

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On the other side of the deal are buyers scouring for fixer-uppers to flip into revenue streams or first-timers looking for a turnkey toehold into the mobile space.

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Because should these goddesses go to the dark side of the scale (say, above 125), save for a Weight Watchers or Subway endorsement deal, their financial and tabloid draw goes right into the gutter.

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For example, an investor or bank may have bought a swap as insurance against an AIG default, with Lehman on the other side of the deal.

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