An elementary music teacher in Cheyenne, Wyoming, reports that on a cold and windy day, one of her three-year-old students declared that she wished they were all on a sandy beach where they could change into their zucchinis. It was clearly a...
springing claim n.— «Some investors who withdrew more than they invested currently have no valid claim, but they might have what is called a “springing” claim later, if Mr Picard tries to sue them for principal as well as profits.» —“Madoff...
cliff risk n.— «In the credit derivatives market, certain instruments are exposed to what is known as “cliff risk.” This ominous sounding phrase describes a situation where the last in a series of adverse developments obliterates the value of what...