take a haircut v. phr. (in finance) to accept a valuation or return that is less than optimal, especially to partially forgive a debt. Editorial Note: A related term is take a bath, meaning “to suffer substantial or complete loss (of an investment).” (source: Double-Tongued Dictionary)
Further reading
The slang phrase someone ate and left no crumbs means the person did something really well. In a previous call, a listener who works in theater noted the use of ate to mean “did something well,” as in they really ate that haircut! This...
What should you say to someone who is grieving the loss of a loved one? When a person is experiencing a loss like that, it matters less what you say and more that you show up in the first place. Non-verbal communication of your sympathy can be far...
This phrase was also popular during the Argentian Debt Crisis earlier this century
See “And the Money Kept Rolling In (and out)”
Page 82 on google books:
http://books.google.com/books?vid=ISBN1586482459&id=oDdD87HSx2oC&pg=PA82&lpg=PA82&vq=haircut&dq=and+the+money+kept+rolling+in&sig=rGCQaVs8QNDIwUeRwvq0fm8hUfA