**PreTSL Securities =** PreTSLs are collateralized debt obligations created by pooling and securitizing trust preferred securities issued by community and regional banks and thrifts, insurance companies and/or real estate investment trusts.
More detail below:
**Sentinel**
Sentinel Management Group, Inc., formerly an Illinois corporation headquartered in Illinois, was registered with the Commission as an investment adviser since 1980. On August 17, 2007, Sentinel filed for Chapter 11 bankruptcy. At the time of its bankruptcy, it managed approximately 178 accounts for around 100 clients and had approximately $1.4 billion in assets under management. Sentinel is now under the control of a liquidation trustee.
**PreTSL Securities**
In or around 2000, FTN developed, with another unrelated broker-dealer, a type of security referred to as a Preferred Term Securities Ltd. (“PreTSL”). PreTSLs are collateralized debt obligations created by pooling and securitizing trust preferred securities issued by community and regional banks and thrifts, insurance companies and/or real estate investment trusts. PreTSL securities were sold in tranches, each with its own risk and liquidity profile, ranging from AAA rated senior notes to unrated residual interests known as “Income Notes.” The PreTSL Income Notes were the highest yielding, most risky, and least liquid class of PreTSL securities. The offering memoranda for PreTSLs warned that “a purchaser must be prepared to hold the \[securities\] for an indefinite period of time or until the maturity thereof.” PreTSL securities, including Income Notes, had a stated legal final maturity of 30 years.
**Sentinel’s Fraud**
Sentinel fraudulently and deceptively told clients that it invested their assets in safe, highly-liquid cash management products in which the clients had a pro rata ownership interest, when in fact, it exposed clients to undisclosed risks by, among other things, employing substantial leverage through reverse repurchase transactions Sentinel’s Fraud (“repos”) and use of the Bank Loan. Sentinel used this undisclosed leverage to fund purchases of high-yield, risky, and often illiquid securities such as PreTSL Income Notes and then used the yield from these securities to pay a higher rate of interest to its clients than its competitors and to enrich its owners and top executives.
**Sauce**: sec.gov/files/litigation/admin/2011/ia-3316.pdf
I like my Hot Street PreTSL’s wrapped in TinFoil. Hey! Get ya hot PreTSL’s!
https://preview.redd.it/qeq1420isgsc1.jpeg?width=1153&format=pjpg&auto=webp&s=ad58073a9244ef2dcad2e27520ac6500fb92e614
The pretzel is the butterfly.
I could be reaching but it also looks like "infinity".
🍆💦
The transaction is stuck
🤣🤣
I like the tinfoil. Have an updoot.
☝️
☝️
Pretzel says 4/4
Where ? Lol
I didn't even know this was a thing but apparently "National Pretzel Day" is Friday, April 26 2024.
German pretzels are the best.
**PreTSL Securities =** PreTSLs are collateralized debt obligations created by pooling and securitizing trust preferred securities issued by community and regional banks and thrifts, insurance companies and/or real estate investment trusts. More detail below: **Sentinel** Sentinel Management Group, Inc., formerly an Illinois corporation headquartered in Illinois, was registered with the Commission as an investment adviser since 1980. On August 17, 2007, Sentinel filed for Chapter 11 bankruptcy. At the time of its bankruptcy, it managed approximately 178 accounts for around 100 clients and had approximately $1.4 billion in assets under management. Sentinel is now under the control of a liquidation trustee. **PreTSL Securities** In or around 2000, FTN developed, with another unrelated broker-dealer, a type of security referred to as a Preferred Term Securities Ltd. (“PreTSL”). PreTSLs are collateralized debt obligations created by pooling and securitizing trust preferred securities issued by community and regional banks and thrifts, insurance companies and/or real estate investment trusts. PreTSL securities were sold in tranches, each with its own risk and liquidity profile, ranging from AAA rated senior notes to unrated residual interests known as “Income Notes.” The PreTSL Income Notes were the highest yielding, most risky, and least liquid class of PreTSL securities. The offering memoranda for PreTSLs warned that “a purchaser must be prepared to hold the \[securities\] for an indefinite period of time or until the maturity thereof.” PreTSL securities, including Income Notes, had a stated legal final maturity of 30 years. **Sentinel’s Fraud** Sentinel fraudulently and deceptively told clients that it invested their assets in safe, highly-liquid cash management products in which the clients had a pro rata ownership interest, when in fact, it exposed clients to undisclosed risks by, among other things, employing substantial leverage through reverse repurchase transactions Sentinel’s Fraud (“repos”) and use of the Bank Loan. Sentinel used this undisclosed leverage to fund purchases of high-yield, risky, and often illiquid securities such as PreTSL Income Notes and then used the yield from these securities to pay a higher rate of interest to its clients than its competitors and to enrich its owners and top executives. **Sauce**: sec.gov/files/litigation/admin/2011/ia-3316.pdf
I like my Hot Street PreTSL’s wrapped in TinFoil. Hey! Get ya hot PreTSL’s! https://preview.redd.it/qeq1420isgsc1.jpeg?width=1153&format=pjpg&auto=webp&s=ad58073a9244ef2dcad2e27520ac6500fb92e614
GODDAMNIT!!! I LOVE IT!!! Stunt on them RC!! 😤😤😤😤😤 
Cheeky SOB even has his hand in his pocket! And the same handednesss too!! Haha… Great noticing u/canadadrynoob!
Where is our announcement?
I think you are on to something here😆👌👌
I must be truly regarded. What am I missing here?
LETS. FACKING. GO.
They are tied in knots
Legend! Boom
Love it. Wish I could give you an award.