In any case, the company that issues the note usually does not intend to use it as a long-term financing strategy.

The process, called monetizing assets, would become crucial to the company's future financing strategies.

Mr. Certilman declined to discuss the county's new financing strategy.

He also lent his support to the Treasury Department's study of whether the department should alter its current financing strategy and sell fewer long-term bonds.

Analysts said that decline had forced corporate treasurers to amend their financing strategies for 1992.

If it works as well as the sponsors hope, the "low-equity" financing strategy could influence national housing policy.

There may even be some pluses for consumers in the new financing strategy, though skeptics abound.

Tony Snow, the White House press secretary, said the short-term financing strategy was misguided.

There are also antipoverty implications in the President's financing strategy.

In other words, this financing strategy could cause substantial dilution for shareholders who are already suffering.