Blood Trust - Eric van Lustbader [148]
His mind was hardly relaxed, however. He was haunted by the possibility that Billy Warren, having discovered the Gemini Holdings accounts, might have hit upon their significance. If he had, Pawnhill thought, surely he’d be smart enough to make electronic copies of the files. And he wouldn’t keep them in his office at Middle Bay. The cops, and then Warren’s family, had all been sifting through his apartment. Nothing had been found, which was a tremendous relief, because with all the activity, Pawnhill had been unable to send a team in to do his own snooping.
He hated loose ends. He also feared them. It was loose ends that invariably tripped you up. He couldn’t afford to be tripped up. He couldn’t afford to allow the Syrian’s dealings to be exposed.
Ever since the Syrian had started preparations for the assassination of President Edward Carson, Pawnhill had been making contingency plans for the day when they might need to pull up stakes and disappear off the American intelligence radar. When the Syrian had seen which way the last U.S. election was going, he had vowed to have the incoming president killed. The last thing he wanted was a moderate president in power. The previous incumbent, surrounded by his bunkered neocons, had exported American aggression into the Islamic world with such a high degree of religious zealousness that his administration had done much of the Syrian’s work for him. He had never had so many recruits clamoring to strap on packets of C4 and blow themselves up in the name of Islam. “A hated America is a weakened America” was a mantra the Syrian often used in his speeches to the new inductees.
It had been a dark day when Edward Carson had been killed in a car accident in Moscow. A random event for which the Syrian’s people could not credibly claim authorship without coming into conflict with the Russian government. So, though the Syrian got what he wanted, he didn’t get it in the way he wanted. There could be no propaganda value attached to President Carson’s death, no righteous revenge that could be claimed, and so a once-in-a-lifetime opportunity had slipped through his fingers. Not one to dwell on missed chances, the Syrian had set his sights on other ways of bringing misfortune and disaster to the United States. He had sifted through many schemes, finally selecting one that had a particular appeal to him.
Pawnhill had received an MBA in international accounting from a major American university and then had gained an advanced international finance degree from Oxford. It was at Oxford that he had met the Syrian. Both had been using different names. They had had a brief but intense weeklong affair, after which they had amused themselves by exchanging girlfriends, much as, long ago, kids traded baseball cards.
Through a series of Gemini Holdings’ subsidiaries set up by Caro, Pawnhill had begun to buy up residential mortgages, package them, and sell them to brokerages and other banks, with the promise of ultrahigh yields. The Syrian had directed Pawnhill to accomplish this utilizing the accounts he had set up in Middle Bay Bancorp. The banks and brokerages, in turn, sold these collateralized debt obligations to their clients.
It was astonishing to Pawnhill how quickly these CDOs got snapped up. Everyone involved was so busy making obscene amounts of money that virtually none of the institutions bothered to look inside the CDOs to see that many of the individual mortgages had been obtained from first-time homeowners