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...
wonder bank n.—Gloss: an organization in Nigeria that falsely promises high returns on low investments, a trick similar to a pyramid scheme. «While not saying the wonder banks were out to dupe the people, the banker said what they promised was just...
Gulfie n.— «The war broke out at the peak of the tourist season, when tens of thousands of wealthy visitors from the Gulf were expected to enjoy high-spending holidays in Lebanon. Instead, those in the country at the time found themselves paying...
wrap fee n.— «It allows broker-dealers to charge fees based on assets under management (sometimes referred to as a “wrap fee”) rather than product commissions—just as the registered investment advisers do. If the client’s portfolio goes up in...
agflation n.— «Look, we’ve already seen in the investment world the term “agflation” has now been coined, and that’s simply a result of this, and that inflationary impact of higher grains prices or higher agricultural commodities prices that will...
jingle mail n.— «When the recession of the early 1990s hit, many owners of converted apartments in the Boston area, and especially those who had purchased them as investments, resorted to “jingle mail”—sending condo-unit keys to their banks or...