Texas governor George W. Bush signed into law the bill to restructure the state's utility industry. Several securitizations of stranded costs are expected as a result.

Long-Term Capital Management founder John Meriwether has gained permission to start a new, as yet unnamed, venture that will get involved in securitization of mortgages and other assets classes, among other investment banking duties. Meriwether had to get agreement from the 14 financial institutions tha