check the boxes v. phr.— «In lobbying parlance, this is known as “checking the boxes”—meticulously informing powerful congressmen and senators about a transaction they might want to weigh in on down the road. Lobbyists live by...
go doughnuts v. phr.— «In bailing out Countrywide Financial, the Bank of America CEO might have spared the kind of worst-case meltdown the market has been fearing for months. “This was good for the financial system,” is how...
old and cold rule n.— «If you plan to use the vacation home as the relinquished property, do not use it personally for at least two years, and two tax returns. The IRS has adopted what is known as the “old and cold” rule. If...
bluebird sale n.— «“Given that the environment favors such action at the large, troubled, earnings-strapped banks, the possibility looms for a large ’bluebird’ sale,” he said, referring to a transaction on highly favorable...
have hair v. phr. (of a financial transaction or investment) to be less than ideal; to be risky; to have complications. Editorial Note: Two common meanings of “to have hair” well-covered elsewhere are “to be old” and...
round trip transaction n.— «According to prosecutors, Stockman lied to banks about the firm’s financial condition, inducing them to loan the company money it couldn’t repay. He engaged in “round trip” transactions that...