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Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations. Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing. Securities backed by mortgage receivables are called mortgage-backed securities, while those backed by other types of receivables are asset-backed securities; the granularity of pools of securitized assets can mitigate the credit risk of individual borrowers. Unlike general corporate debt, the credit quality of securitized debt is non-stationary due to changes in volatility that are time- and structure-dependent. If the transaction is properly structured and the pool performs as expected, the credit risk of all tranches of structured debt improves.

Securitization has evolved from its beginnings in the late 18th century to an estimated outstanding of $10.24 trillion in the United States and $2.25 trillion in Europe as of the 2nd quarter of 2008. In 2007, ABS issuance amounted to $3.455 trillion in $652 billion in Europe. WBS arrangements first appeared in the United Kingdom in the 1990s, became common in various Commonwealth legal systems where senior creditors of an insolvent business gain the right to control the company; the originator owns the assets engaged in the deal. This is a company looking to either raise capital, restructure debt or otherwise adjust its finances. Under traditional corporate finance concepts, such a company would have three options to raise new capital: a loan, bond issue, or issuance of stock. However, stock offerings dilute the ownership and control of the company, while loan or bond financing is prohibitively expensive due to the credit rating of the company and the associated rise in interest rates; the revenue-generating part of the company may have a much higher credit rating than the company as a whole.

For instance, a leasing company may have provided $10m nominal value of leases, it will receive a cash flow over the next five years from these. It so can not get its money back early if required. If it could sell the rights to the cash flows from the leases to someone else, it could transform that income stream into a lump sum today. Where the originator is a bank or other organization that must meet capital adequacy requirements, the structure is more complex because a separate company is set up to buy the assets. A suitably large portfolio of assets is "pooled" and transferred to a "special purpose vehicle" or "SPV", a tax-exempt company or trust formed for the specific purpose of funding the assets. Once the assets are transferred to the issuer, there is no recourse to the originator; the issuer is "bankruptcy remote", meaning that if the originator goes into bankruptcy, the assets of the issuer will not be distributed to the creditors of the originator. In order to achieve this, the governing documents of the issuer restrict its activities to only those necessary to complete the issuance of securities.

Many issuers are "orphaned". In the case of certain assets, such as credit card debt, where the portfolio is made up of a changing pool of receivables, a trust in favor of the SPV may be declared in place of traditional transfer by assignment. Accounting standards govern when such a transfer is a true sale, a financing, a partial sale, or a part-sale and part-financing. In a true sale, the originator is allowed to remove the transferred assets from its balance sheet: in a financing, the assets are considered to remain the property of the originator. Under US accounting standards, the originator achieves a sale by being at arm's length from the issuer, in which case the issuer is classified as a "qualifying special purpose entity" or "qSPE"; because of these structural issues, the originator needs the help of an investment bank in setting up the structure of the transaction. To be able to buy the assets from the originator, the issuer SPV issues tradable securities to fund the purchase. Investors purchase the securities, either on the open market.

The performance of the securities is directly linked to the performance of the assets. Credit rating agencies rate the securities which are issued to provide an external perspective on the liabilities being created and help the investor make a more informed decision. In transactions with static assets, a depositor will assemble the underlying collateral, help structure the securities and work with the financial markets to sell the securities to investors; the depositor has taken on added significance under Regulation AB. The depositor owns 100% of the beneficial interest in the issuing entity and is the parent or a wholly owned subsidiary of the parent which initiates the transaction. In transactions with managed assets, asset managers assemble the underlying collateral, help structure the securities and work with the financial markets i

Entrenching battalions

Entrenching battalions were temporary units formed in the British Army during the First World War. Allocated at Corps level, they were used as pools of men, from which drafts of replacements could be drawn by conventional infantry battalions; the practice ceased on the Western Front by autumn 1917, due to manpower shortages, but saw a revival at the start of 1918. The reduction in the number of battalions in an infantry brigade resulted in many infantry battalions being disbanded. Following the disbandment of these infantry battalions in February 1918, the pool of men was used to bring the remaining battalions up to strength, to allocate any remaining manpower surplus to 25 entrenching battalions; these battalions were put to use in improving the existing defences in anticipation of a German offensive, could be used as a reserve force if needed. The entrenching battalions were disbanded in April 1918, with their troops apportioned to infantry battalions to make good the losses suffered following Operation Michael, which began the German Spring Offensive of 1918.

Many of their war diaries from 1918 have survived and can be consulted at the National Archives at Kew though the 1918 war diaries for the 1st, 6th, 7th, 10th, 13th, 15th and 17th Entrenching Battalions have not survived. In addition to the entrenching battalions of the British Army, there were entrenching battalions in both the Canadian Expeditionary Force and the Australian Imperial Force. In addition, the New Zealand Pioneer Battalion served with the New Zealand Expeditionary Force; the following entrenching battalions were formed: 1st Entrenching Battalion The Battalion appears to have been stationed in Salonika in 1918. 2nd Entrenching Battalion The Battalion appears to have been stationed in Salonika in 1918. The unit was commanded by Hubert Carr-Gomm. 3rd Entrenching Battalion Formed from a number of battalion elements. 4th Entrenching Battalion Formed from the disbanded 13th Battalion East Yorkshire Regiment, a small number of former members of 14th Battalion York and Lancaster Regiment, although many of the 2nd Barnsley Pals were to join the 1st Barnsley Pals.

5th Entrenching Battalion Formed from the 13th Battalion Cheshire Regiment, 8th Battalion Bedfordshire Regiment, 9th Battalion Suffolk Regiment and 8th Battalion Loyal North Lancashire Regiment. 6th Entrenching Battalion Formed from the 11th Battalion Kings Own Regiment. 7th Entrenching Battalion Formed from the Nelson Battalion, Royal Naval Division, 8th Battalion, The South Staffordshire Regiment. 8th Entrenching Battalion Formed from the 19th Battalions of the Royal Welsh Fusiliers. 9th Entrenching Battalion Formed from Monmouthshire Regiment. 10th Entrenching Battalion Formed from the disbanded 8th Battalion East Yorkshire Regiment and 12th Battalion West Yorkshire Regiment. Disbanded on 5 April 1918; these men subsequently joined the 7th Battalion East Yorkshire Regiment and 10th Battalion West Yorkshire Regiment. 11th Entrenching Battalion Formed from the Household Battalion, a battalion raised from the Household Cavalry, the residue of the disbanded 3/10th Battalion, Middlesex Regiment.

12th Entrenching Battalion Formed from elements of the 23rd Battalion Manchester Regiment. The Officer Commanding was Lieutenant Colonel L M Stevens DSO. 13th Entrenching Battalion Formed from the 10th Battalion, Gloucestershire Regiment. 14th Entrenching Battalion Formed from Kings Own Yorkshire Light Infantry. 15th Entrenching Battalion Formed from East Lancaster Regiment. 16th Entrenching Battalion Formed from half of the disbanded 6th Battalion King's Own Yorkshire Light Infantry. 17th Entrenching Battalion Formed from elements of the 18th Battalion Manchester Regiment. The battalion was with the 49th Division during the Spring Offensive. 18th Entrenching Battalion Formed from Middlesex Regiment. 19th Entrenching Battalion Formed from the 10th Battalion, Royal Dublin Fusiliers, 7th Battalion, Leinster Regiment and details from the 16th Division. 20th Entrenching Battalion Formed from men of the 3/4th Battalion Queen's Royal Regiment, 8th and 9th Battalion Royal Dublin Fusiliers, 9th Battalion Leicestershire Regiment, 10th Yorkshire Regiment, 10th King's Own Yorkshire Light Infantry, 14th Hampshire Regiment and 3rd South African Infantry Regiment.

21st Entrenching Battalion Formed from Royal Irish Rifles. 22nd Entrenching Battalion Formed from the 11/13th Royal Irish Rifles. 23rd Entrenching Battalion Formed from the 14th Battalion Royal Irish Rifles and 11th Battalion Royal Inniskilling Fusiliers. 24th Entrenching Battalion Formed from the 2/5th Battalion Royal Warwickshire Regiment, the 2/4th and 2/6th Battalions Gloucestershire Regiment. 25th Entrenching Battalion Formed from the 2/1st Buckinghamshire Battalion, the 2/7th and 2/8th Battalions Royal Warwickshire Regiment. These men subsequently joined the 2/4th Oxfordshire & Buckinghamshire Light Infantry when the battalion was disbanded in April 1918. Entrenching battalions article on the 1914-1918 website

Knights of Pen & Paper

Knights of Pen & Paper is a role-playing video game developed by Behold Studios and published by Paradox Interactive. It was released on October 30, 2012 for iOS and Android, on June 18, 2013 for Windows, Mac OS X and Linux. Versions for PlayStation 4, Xbox One, Nintendo Switch were released on December 13, 2018 The game received positive reviews from critics, who cited its originality. Knights of Pen & Paper is a turn-based RPG with the twist that the game itself exists in the imaginations of a group of Dungeons & Dragons-style role-playing game players, who are shown; the player can control not only the players of the in-universe game, but the Dungeon Master, allowing them to choose which battles to fight. The table upon which the in-universe game is being played is a constant presence. Sometimes the role-players will talk amongst themselves informally; the game contains many references to 16-bit RPGs. Knights of Pen & Paper received positive reviews, holds an aggregate score of 83/100 on Metacritic.

Rich Stanton of Eurogamer scored the game 9/10, calling the game a "rare case" in which such an "offbeat premise" is "executed with such winning aplomb that you can't help but be sucked in", said that it made him interested in the real Dungeons & Dragons. Nick Tywalk of Gamezebo scored the game 4.5/5, calling the game a "send up and tribute to old-school RPGs", with "witty writing". The game was released on PC under the subtitle "+1 Edition", which garnered more mixed reviews from critics on that platform, with an aggregate Metacritic score of 62/100; the game received a sequel called Knights of Pen & Paper 2, developed by Kyy Games and released in 2015. Galaxy of Pen & Paper, a table-top RPG based on science fiction rather than swords and sorcery, developed by Behold Studios once again, released in 2017


Kentrosaurus is a genus of stegosaurian dinosaur from the Late Jurassic of Tanzania. The type species is K. aethiopicus and described by German palaeontologist Edwin Hennig in 1915. Thought to be a "primitive" member of the Stegosauria, several recent cladistic analyses find it as more derived than many other stegosaurs, a close relative of Stegosaurus from the North American Morrison Formation within the Stegosauridae. Fossils of K. aethiopicus have been found only in the Tendaguru Formation, dated to the late Kimmeridgian and early Tithonian ages, about 152 million years ago. Hundreds of bones were unearthed by German expeditions to German East Africa between 1909 and 1912. Although no complete skeletons are known, the remains provided a nearly complete picture of the build of the animal. Kentrosaurus measured around 4.5 metres in length as an adult, weighed about one tonne. It walked on all fours with straight hindlimbs, it had a small, elongated head with a beak used to bite off plant material that would be digested in a large gut.

It had a double, row of small plates running down its neck and back. These plates merged into spikes on the hip and tail; the longest spikes were on the tail end and were used to defend the animal. There was a long spike on each shoulder; the thigh bones come in two different types, suggesting that one sex was larger and more stout than the other. Kentrosaurus was a small stegosaur, it had the typical dinosaurian body bauplan, characterised by a small head, a long neck, short forelimbs and long hindlimbs, a long and muscular tail. Typical stegosaurid traits included the elongation and flatness of the head, the powerful build of the forelimbs and pillar-like hindlimbs and an array of plates and spikes running along both sides of the top mid-line of the animal. Only a single complete tooth was known when Hennig published his monography in 1925. A part of a dentary, the tooth-bearing bone of the front lower jaw, was found, which bears a just emerging tooth, some tooth fragments were recovered from matrix sticking to other bones.

The deep dentary is identical in shape to that of Stegosaurus, albeit much smaller. The tooth is a typical stegosaurian tooth, small with a widened base and vertical grooves creating five ridges. Kentrosaurus aethiopicus was smaller than Stegosaurus ungulatus, Hesperosaurus mjosi, Dacentrurus armatus and Tuojiangosaurus multispinus, about as large as Huayangosaurus taibaii; the total length of a composite skeletal mount in the Museum für Naturkunde Berlin, from the tip of the snout to the tip of the tail is 4.5 m. More than half of this length is made up by the tail. Larger single elements were found, so that the animal could attain a total length of 5.5 m. In 2010, Gregory S. Paul estimated the weight of a 4-metre-long Kentrosaurus at seven hundred kilograms. An estimate for the 4.5 m long composite mount in the Museum für Naturkunde Berlin by Mallison, on the basis of a virtual 3D skeleton and 3D model, varied between 1073 L and 1267 L, a body mass between 1 and 1.5 tonnes, depending on the amount of musculature reconstructed for the tail.

The long tail of Kentrosaurus results in a position of the center of mass, unusually far back for a quadrupedal animal. It rests just in front of the hip, a position seen in bipedal dinosaurs. However, the femora are straight in Kentrosaurus, as opposed to typical bipeds, indicating a straight and vertical limb position. Thus, the hindlimbs, though powered by massive thigh muscles attached to a long ilium, did not support the animal alone, the robust forelimbs took up 10 to 15% of the bodyweight. Kentrosaurus can be distinguished from other members of the Stegosauria by a number of extensions of the vertebrae, which in the tail do not run sub-parallel, as in most dinosaurs. In the front third of the tail, they point the usual direction. In the middle tail, they are vertical, further back they are hook-shaped and point obliquely forward. Typical is that the dorsal vertebrae have a neural arch more than twice as high as the centrum, the vertebral body, completely occupied by the spacious neural canal.

The preacetabular process, front blade, of the ilium widens laterally, to the front outer side, does not taper. Furthermore, there is a unique combination of traits not in themselves unique; the transverse processes, the side extensions, of the tail are present up to the 28th vertebra of the series. The transverse processes of the front tail vertebrae are rod-shaped with narrow bases and do not touch the plate formed by the fusion of the processes of the sacral vertebrae; the chevrons, bones pointing to below from the bottom side of the tail vertebrae, have the shape of an inverted T. The length of the ilium is greater than, that of the thigh bone. For a stegosaur, Kentrosaurus had extensive osteoderm covering, including small plates, spikes of various shapes; the spikes of Kentrosaurus are elongated, with one specimen having a bone core length of 731 millimetres. The plates have a thickened section in the middle; the spikes and plates were covered by horn. Aside from a few exceptions they were not found in close association with other skeletal remains.

Thus, the exact position of most osteoderms is uncertain. A pair of spaced spikes was found articulated with a tail tip, a number of spikes were found regularly spaced in pairs along the path of an articulated tail. Hennig and Janensch, while groupin

Casper's First Christmas

Casper's First Christmas is a 1979 Christmas television special and crossover produced by Hanna-Barbera featuring Casper the Friendly Ghost and his friend Hairy Scarey from the animated series Casper and the Angels with guest stars Yogi Bear, Boo-Boo, Huckleberry Hound, Quick Draw McGraw, Augie Doggie and Doggie Daddy. It aired on NBC on December 18, 1979; the theme song sung by Yogi's pals was again used a year in Yogi's First Christmas, which contradicts the events of this special in which Yogi and Boo Boo can be seen celebrating Christmas with the other cast members. This marked the first and only time that this special pairs together the characters from its owners, Hanna-Barbera and Harvey Entertainment. Like many animated series created by Hanna-Barbera in the 1970s, the show contained a laugh track created by the studio. Casper and his friend Hairy Scarey are in a house about to be demolished on Christmas Eve and go out to look for a new place to move to after Christmas in California.

Yogi and his friends get lost and arrive at Casper and Hairy's house and clean and decorate it to celebrate Christmas. Casper befriends Yogi and company only for Hairy to try to ruin the party with Casper and his new friends. Hairy has a change of heart and celebrates Christmas with Casper and his new friends and ending with Santa Claus saving the house and turning it into Hairy's Haunting Lodge. Julie McWhirter as Casper Daws Butler as Yogi Bear, Huckleberry Hound, Quick Draw McGraw and Augie Doggie Don Messick as Boo-Boo Bear Hal Smith as Santa Claus John Stephenson as Hairy Scarey and Doggie Daddy Paul DeKorte - Singer Ida Sue McCune - Singer Michael Redman - Singer Executive Producers: William Hanna and Joseph Barbera Producer: Alex Lovy Associate Producer: Doug Paterson Director: Carl Urbano Story: Bob Ogle Story Direction: Don Sheppard Executive in Charge of Development: Margaret Loesch Recording Director: Alex Lovy Voices: Daws Butler, Paul DeKorte, Don Messick, Hal Smith, Ida Sue McCune, Julie McWhirter, John Stephenson, Michael Redman Musical Sequences Directed by: Tex Avery, Chuck Couch, Tom Yakutis Musical Director: Hoyt Curtin Musical Supervisor: Paul DeKorte Character Design: Don Morgan Sound Directors: Richard Olson, Bill Getty Layout Director: Steve Lumley Layout: Joe Shearer, Shane Porteus, Deane Taylor Animation Director: Geoffrey Collins Animators: Peter Gardiner, Gerry Grabner, Greg Ingram, Paul Maron, Henry Neville, Susan Beak, Gairden Cooke, Dick Dunn, Peter Eastment, Don Ezard, Nicholas Harding, Chris Hague, Pamela Lofts, Paul McAdam, John Martin, Ray Nowland, Vivien Ray, Andrew Szermenyei, Jean Tych, Kaye Watts Assistant Animation Supervisor: Martin Chatfield Assistant Animators: Jac Appel, Fernando Bernia, Astrid Brennan, Rodney D'Silva, John Eyley, Ian Harrowell, Paul Baker, Mark Benvenuti, Jo-Anne Beresford, Marc Erasmus, Eva Hellscher, John Hull, Denise Kirkham, Jane LeRossignol, Helen McAdam, Kevin Peaty, Cliff Secto, Geoff White, Lucie Laarakkers, Steve Lyons, Marie Orr, Philip Peppers, Stella Wakil, Milan Zahorsky Supervising Director: Chris Cuddington Animation Checking: Jan Cregan, Ellen Bailey, Liz Lane, Frances Mould, Renee Robinson Backgrounds: Richard Zaloudek, Sue Speer, Jerry Liew, Ken Wright, Milan Zahorsky Snr.

Zdenka Ebner, Judy Nicholson Production Co-ordinator: Judy Cross Production Control: Vicki Joyce Xerox: Jack Pietruska Paint: Narelle Derrick Paint Check: Liz Goodwin Camera: Mark D'Arcy-Irvine, Virginia Browne, Carole Conen, Shaun Bell Editing: Robert Ciaglla Supervising Film Editor: Larry C. Cowan Dubbing Supervisor: Pat Foley Music Editors: Terry Moore, Joe Sandusky Effects Editors: Julia Bagdonas, Sue Brown, Catherine MacKenzie Show Editor: Gil Iverson Negative Consultant: William E. DeBoer Post Production Supervisor: Joed Eaton A HANNA-BARBERA Production Based on the character and copyrighted by HARVEY CARTOONS, a partnership Copyright 1979 Hanna-Barbera Productions Inc. All Right Reserved Turner Home Entertainment released Casper's First Christmas on VHS on September 26, 1995. On July 31, 2012, Warner Bros. released Hanna-Barbera Christmas Classics Collection on DVD in region 1 via their Warner Archive Collection. This is a Manufacture-on-Demand release, available through Warner's online store and only in the US.

This collection features a trilogy of Christmas specials: Casper's First Christmas, The Town That Santa Forgot and A Christmas Story. December 4, 1986 December 3, 1987 September 26, 1995 September 29, 1998 November 2, 1999 October 31, 2000 October 16, 2001 July 31, 2012 Casper's Halloween Special Casper and the Angels Casper's First Christmas on IMDb Casper's First Christmas at The Big Cartoon DataBase

Kushal Konwar

Kushal Konwar was an Indian-Assamese freedom fighter from Assam and he happened to be the only martyr in India, hanged during last phase of the Quit India Movement of 1942-43. Kushal Konwar was born in 21 March 1905 at Balijan near Sarupathar in the modern District of Golaghat in Assam, his family descended from the royal family of Chutiya kingdom and used the surname "Boruah", abandoned. Kushal attended the Bezbaruah School. In 1921, while still at school he was inspired by Gandhiji’s call for a non-cooperation movement and took an active part in it. Inspired by Gandhiji’s ideals of Swaraj and Ahimsa, Konwar set up a primary school at Bengmai and served as its honorary teacher, he joined the Balijan Tea Estate as a clerk where he worked for a while. However, the spirit of independence and call of Mahatma Gandhi inspired him to dedicate himself wholeheartedly in the Independence Movement, he organised the Congress party and lead the people of Sarupathar area in Satyagraha and non-cooperation movement against the British.

He was elected the President of the Sarupathar Congress Committee. As stated by the historian Surjyakanta Khanikar, the ancestors of Kushal Konwar can be traced back to the last king of Chutiya kingdom, Dhirnarayan. Dhirnarayan had three brothers of; the other two brothers and Kapurtara, managed to flee. When the Ahom king found them, he settled them in Gojpur. Namsing and Kapurtora had seven sons in total, out; the remaining ones were displaced to different regions within the kingdom so that they could not rebel in future. The first one was settled in Tarajan, the second in Charingia, the third in Bosa Pathar, the others in Amguri and Nagaon respectively; the family, settled in Bosa pathar migrated to Gontho koroi village of Sarupathar in Golaghat district. Kushal konwar belonged to this line of the family. On 8 August 1942 the Congress Working Committee in its meeting in Bombay passed the "Quit India" resolution; this resolution demanded complete withdrawal of the British from the India’s soil.

Mahatma Gandhi gave the call of "do or die" to the people of India. The British reacted by putting them in jails. Across India, this sparked a widespread mass movement against the British. Cutting across caste and religion people came out to the streets shouting the slogan of "Vande Mataram". In spite of Gandhiji’s appeal for peaceful non-cooperation and dharna, in many regions the movement erupted in violence with people burning offices and damaging government properties, disrupting road and telecommunication networks; some people of Assam spontaneously joined this historic movement of 1942. Two of the leaders of the Assam Pradesh Congress, Gopinath Bordoloi and Siddhinath Sarma were arrested by the British in Dhubri while returning from Bombay attending the Congress Working Committee meeting. Other Congress leaders such as Bishnuram Medhi, Bimala Prasad Chaliha, Md. Tayebulla, Omeo Kumar Das, Debeswar Sarma, etc. were arrested from different parts of Assam and thrown into jails. Assam too burned like the rest of India and many people leaving the path of nonviolence engaged in violence.

On 10 October 1942, hidden in the thick fog of early morning, some people removed few sleepers of the railway line near Sarupathar in Golaghat district. A Military train passing by derailed and many British and American soldiers lost their lives; the British army cordoned the area and started an operation to catch the culprits. Innocent people of the area were beaten and harassed; the British police participated in this reign of terror in which people were arrested. Accusing Kushal Konwar as the chief conspirator of the train sabotage, the British police arrested him. An ardent follower of Gandhiji and his principle of nonviolence, Kushal was ignorant about the sabotage plan and action, he was innocent but the police charged him as the mastermind of the train sabotage. He was brought from Golaghat and was lodged in the Jorhat jail on 5 November 1942. In the Court of CM Humphrey, Kushal Konwar was declared guilty, though there was not a single proof against him. Kushal was sentenced to death by hanging.

He accepted the verdict with dignity. When his wife, Prabhavati visited him in the Jorhat jail, he told her that he is proud that God has selected him to be the only one among the thousands of prisoners to give the supreme sacrifice for the country. Kushal spent his remaining days in the death row cell of Jorhat jail in prayers and reading the Gita. At dawn on 15 June 1943 at 4:30 am, Kushal Konwar was hanged in Jorhat Jail, he sacrificed his life knowing as Mahatma said: "He alone can be a true satyagrahi who knows the art of living and dying." Kushal Konwar married Prabhawati while young and had two sons and Nagen. Both sons have died, his late elder son Khagen Konwar had five sons and five daughters who are still alive. The late Nagen Konwar's family wife and two sons are still alive and live in Guwahati. Kushal Konwar: The Only Martyr to be Hanged in 1942.. Government of Assam, translated from Assamese into English by Jolly Saikia Gogoi Kushal Konwar or Swahid Kushal Konwar or Martyr Kushal Konwar.

Assam Info