Risky Paper Bound to Stick to Banks' Books

The Globe and Mail, Derek DeCloet, 21 Feb 2008Three years ago, the men in pinstripes at Bank of Montreal thought they'd hooked a swell new customer. A U.S. mortgage company, FMF Capital, needed to raise money, and wouldn't you know it, turning it into a Canadian income trust seemed like just the ticket.BMO won the right to lead the $198-million offering. Within nine months, FMF was on the brink