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...
cleanskin n.— «The word “cleanskin” comes from a term used to describe unbranded livestock. When a winery has more wine than it can sell it has three options: 1. hang on to it; 2. discount it; or 3. sell it off unlabelled...