From: "Jeffrey E." <[email protected]> To: Melanie Spinella Subject: Fwd: FW: (BN) The 1% Find Deal From Banks to Match Their Status: 1% Art L [I] Date: Wed, 04 Nov 2015 12:58:10 +0000 Forwarded message From: Paul Morris Date: Wednesday, 4 November 2015 Subject: FW: (BN) The 1% Find Deal From Banks to Match Their Status: 1% Art L [I] To: Jeffrey Epstein <[email protected]> Original Message From: Kim Shores Sent: Wednesday, November 04, 2015 07:31 AM Eastern Standard Time To: Paul Morris Subject: FW: (BN) The 1% Find Deal From Banks to Match Their Status: I% Art L [I] Classification: For internal use only Paul - It was good to see you too! Following is the Bloomberg article I mentioned about Wynn. The 1% Find Deal From Banks to Match Their Status: 1% Art Loans 2015-10-20 22:02:10.564 GMT By Miles Weiss and Katya Kazakina (Bloomberg) — Being part of the 1 percent just took on new meaning. That's about the rate at which billionaire Steve Wynn is borrowing against his extensive art collection as wealth management firms push to win business from the world's ultra- rich. The casino mogul pledged 59 works of art as collateral for a loan from Bank of America Corp., one of several steps he recently took to raise cash, according to interviews and regulatory filings. The 73-year-old founder of Wynn Resorts Ltd. said the arrangements permit him to borrow at less than 1 percent. "This is a great time to be poised with ample cash," Wynn said in an e-mail through his spokesman. The favorable terms highlight the increasing competition in the market for art lending, where wealth managers are seeking to win and retain top clients with lower interest rates than ever. Traditionally dominated by auction houses and banks such as Citigroup Inc., JPMorgan Chase & Co. and Bank of America, record prices for art and a surge in wealth among the world's richest are attracting new players, including one venture backed by private equity firm Carlyle Gro