He tried to sell it to a bank at a discount in the usual way.
The founding Recanati family had a rich history, establishing the Israel Discount Bank in 1935 and arranging in the 1940s to ferry Jews to what was then Palestine.
Mr Rennie said Lib Dems in the UK government were working to get the economy back on track, including tax cuts for low and middle-income families, a green investment bank and an island fuel discount.
If Washington can agree on something or at least push out the day of reckoning, bank stocks must start to discount the end to net interest margin depression, a big plus dwelling in the cards.
And the cost to the supplier of immediate cash payment by the bank, in respect of the implicit interest rate or discount on the bill, ought to be tiny - because the bank is in effect lending to the safe big company, which ultimately honours the bill, not to the riskier supplier.
Just over a week after that statement, the Fed abruptly turned course, cutting the discount rate to encourage bank borrowing to ease a growing liquidity crisis in the credit and bond markets.
In normal circumstances a bank would be loth to use the discount facility as, by doing so, it reveals that it cannot find funding at a reasonable price from peers a hint of possible insolvency.
The Bank of Japan's cut in its discount rate this week may have been aimed as much at helping the banks through this period as at supporting other central banks' easing.
The RBS-Blackstone deal was done at a 30% discount to the loans' value, according to DTZ research, and the bank's March sale of troubled Spanish loans to Perella Weinberg Partners sold at a 45% discount.
Short sales typically sell for less of a discount and allow a property to avoid bank repossession.
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The Italian bank UniCredit plans to offer new shares at a steep discount to raise capital.
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Bear Stearns was not a bank, could not borrow from the Fed's discount window and wasn't even all that big, yet the government still wouldn't let it fail.
And, as for the ADL, Ms. Elliot neglected to mention that most religiously or politically active Jews discount the ADL as little more than a bank account for Abe Foxman, its long-term leader, who has turned the once-respected institution into a progressive mouthpiece.
You have your paycheck deposited electronically at the discount broker, just as you would at a bank.
The discount rate is the interest rate that the central bank charges commercial banks that need to borrow additional reserves.
Bear Stearns is not technically a bank, but the Fed's move to allow it access to the discount window shows just how complex and intertwined the financial world has become.
Other announcements included an increase in the bank levy to 0.088% from 1 January and a 50% discount for social housing tenants who want to buy their own home - the proceeds of which would go towards building new affordable homes.
Investment banks face the potential of losing access to the Federal Reserve's discount window on Sept. 14, which is the earliest the central bank said it would consider whether to continue to allow the access.
UniCredit Aton, a Moscow investment bank, opined in February that AES was selling at as much as a 50% discount.
Consequently, when the Franklin National Bank collapsed in October of that year marking the largest U.S. bank failure ever up to that time the Fed felt safe in cutting the discount rate to avert a banking panic.
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"Postfinancial crisis, the IPO market labored under a wider-than-normal IPO discount, " said Jeff Bunzel, head of equity capital markets for the Americas at Deutsche Bank AG.
But the deal collapsed, and the bank ended up selling many of the assets mostly apartments to individuals for less of a discount than Morgan Stanley was seeking, according to a person with direct knowledge of the deal.
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