
Celebrity Bond - ZeljkoS
https://en.wikipedia.org/wiki/Celebrity_bond
======
dang
Dostoevsky's _The Gambler_ was written to get him out of something like that.
I couldn't find a good web page with the story, but
[https://books.google.com/books?id=heVDCgAAQBAJ&amp;amp;amp;a...](https://books.google.com/books?id=heVDCgAAQBAJ&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;pg=PA211&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lpg=PA211&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;dq=dostoevsky+debt+gambler+police+station&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;source=bl&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;ots=wv904AjhSo&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;sig=-7A7w3gLrjt69Nyx6GdHEcBD0cw&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;hl=en&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;sa=X&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;ved=2ahUKEwip_evhiJ3dAhUE-
lQKHRJ2CuQQ6AEwDXoECAQQAQ#v=onepage&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;q=dostoevsky%20debt%20gambler%20police%20station&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;f=false)
has the basics.

The story is better than that, though. He was working on one of his great
novels as a serial (Crime and Punishment, I think), so he had to keep writing
that during the day. But he had to produce another novel at the same time in
order not to lose his future royalties to this publishing contract, which he
had signed to pay off his own gambling debts. He was in despair, but a clever
friend found the star pupil at the local shorthand academy and Dostoevsky
dictated _The Gambler_ to her in the evenings while she got it down in
shorthand (a new technology at the time) and later transcribed it. They only
had a few weeks, and finished it at the last minute, but the publisher had
cunningly closed his office that day. He was no match for Anna, however, who
took the manuscript to the nearest police station and got a receipt, rescuing
Dostoevsky's career. Then he married her.

~~~
jtbayly
If this is true, then the linked Wikipedia article needs to be changed where
it says “pioneered in 1997 by rock and roll investment banker David Pullman
through his $55 million David Bowie bond deal.”

~~~
dang
I'm sure it wasn't technically a bond—it just fits in the same bucket in my
head. I'll change "one of these" to "something like that" above.

------
apo
_In addition to getting money upfront, artists additionally retain ownership
of their work and do not have to pay tax on what the IRS considers a loan,
since yet-to-be received royalties are re-characterized by the bond agreement
as loan interest and principal payments._

Similar tax advantages present themselves to those who borrow money using
stocks as collateral.

 _Borrowing against a stock portfolio is nothing new. Margin loans have been
around for a long time. But securities-based loans offered by Morgan Stanley,
Bank of America, and other large wealth managers aren 't margin loans. The
proceeds aren't supposed to be used to buy more investments. Marketing
materials commonly suggest using a securities-based loan to buy a vacation
home, or cover retirement expenses, without needing to sell your investments._

[https://www.fool.com/investing/2017/11/19/wall-streets-
hotte...](https://www.fool.com/investing/2017/11/19/wall-streets-hottest-loan-
product-borrowing-agains.aspx)

