1.   The investors are unlikely to underwrite these fees until the transaction has been completed, when they can be met out of the funding provided.

2.   One possibility is that the vendor underwrites the fees in the event that the transaction aborts, subject to an agreed maximum.

3.   Another measure of prowess is underwriting fees earned, which do not always correlate to the volume of deals completed.

4.   Goldman, Sachs led Merrill Lynch by one key measure, underwriting fees, in large part because of its lucrative business with hot Internet stocks.

5.   Now bankers are readying for an even richer year in underwriting fees, while the stock exchange is hoping for a much-needed capital surge.

6.   The proposed penalties, which include denying Swiss banks the chance to bid for municipal and state deposits and underwriting fees, are misconceived.