  As noted above, there are near-synonyms which are alike in taking nominal complements but which differ with respect to substitutions. This seems to be a fact that everyone must explain. It is hard to think that the very slight differences in meaning between ‘hold’ and ‘believe’ as they occur in ‘S Vs that p’, could explain the substitutional differences. Nor, as we saw above, does the ambiguity hypothesis seem helpful here. It seems likely that the substitutional differences must be explained in terms of shifts in verb meaning. Because substitution does not affect the meaning of ‘believe’, it must affect the meaning of ‘hold’, and, intuitively, it does. This does leave the question of how the Objectivization Effect itself is to be explained. But one might hope that a broadly syntactic solution — perhaps like King’s — would be available to anyone, regardless of one’s stance on propositions.