Talk:Media Standards Trust 2

neuburger: http://www.jbs.cam.ac.uk/people/advisory_board/index.html might b int to spell out all(?) their conn to Stevenson neub above, kennedy B. council, bell pearson and so forth

In most instances, his legal work for investors consisted of complex three- and four-sided financial projects whose success depended on Dulles's skills as a negotiator and his contacts inside U.S. and foreign governments. Typically, private banks and brokerage houses sought out leading German or other foreign companies, banks, and local governments with offers to loan U.S. dollars for the construction of new factories, municipal electrification, or similar projects. If the foreign party was interested, it would issue millions of dollars worth of bonds and sell them to Dulles's clients for somewhat less than the market price-at a wholesale rate, so to speak. The clients would then turn around and sell the bonds to other U.S. banks and individual investors at "retail" rates, usually paying Dulles and Sullivan & Cromwell two or three percentage points of the overall value of the bond offering for their services. The foreign borrowers included not only dozens of companies but also governments as varied as Argentina, Czechoslovakia, and Denmark. However, Dulles clearly emphasized projects for Germany, for the military junta in Poland, and for Mussolini's fascist state in Italy. U.S. State Department documents [...] provide some indication of the nature and scope of the business in which Dulles played a personal role as a fixer, advisor, or middleman...

So a private bank or brokerage house looks for foreign companies, local government etc. makes loans offers for 'projects' and the bond issues are sold at a discount (via lawyers and their clients) of less than market value, who then sell them to others at retail price.