Corus Bankshares Inc. (fka CORSQ)

[errett]

td31----Are trust originated preferred securities equity?---NO----The bank holding company creates a "Trust", the BHC then places certain debt securities in that trust----the Trust then issues trust originated preferred securities that have features of a debt security as well as some features of a preferred equity security-----but there never is any equity ownership attached to the trust originated preferred securities----the features that are incorporated into the debt security just provide the BHC with tax advantages they wouldn't have if they were a straight debt security. They are just debt securities--plain and simple:) JMHO