Met Collateralizes Chagalls

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Photo: Courtesy of the Metropolitan Opera

In a move they call a "a decision of last resort," the Metropolitan Opera has borrowed money against The Triumph of Music and The Sources of Music, the huge paintings by Marc Chagall hanging in its lobby. "If you have some great art sitting on the wall, why not use it as collateral?," says former Met CFO Marvin Suchoff. "It beats selling it for cash." [NYM]