good bank/bad bank
n.— «American International Group (AIG): NY Posts reports that AIG is considering forming a separate company to hold billions in securities that have dogged its balance sheet for the past several quarters. According to sources familiar with the matter, AIG is working with JPMorgan Chase to arrange what is known in Wall Street lingo as a “good bank/bad bank,” or in AIG’s case a “good insurer/bad insurer,” structure, according to the article. S&P keeps hold.» —“Movers: AIG, Wal-Mart, Boeing, Ciena, Hovnanian” BusinessWeek Sept. 4, 2008. (source: Double-Tongued Dictionary)
Further reading
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In 1971, when a new public library opened in Troy, Michigan, famous authors and artists were invited to write letters to the city’s youngest readers, extolling the many benefits of libraries. One of the loveliest was from E.B. White, author of...