cram-down
n.— «Paulson, run by former Bear Stearns (BSC) investment banker John Paulson, stands to rake in a windfall if the measure passes. The key bill, introduced last month, would allow federal judges to restructure mortgage terms and lower payments on the primary homes of borrowers in bankruptcy, a significant legal change. The process, known as a “cram-down” in industry jargon, is opposed by investment banks that trade in mortgage-backed securities.» —“Paulson’s Subprime Hedge” by Eamon Javers BusinessWeek Oct. 12, 2007. (source: Double-Tongued Dictionary)
Further reading
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