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zombie

zombie  n.— «Investments which last for much longer than the five-year standard nowadays often go one of two ways: either the company is killed off by the weight of its borrowings or it becomes what is known as a “zombie”—a business that...

hotlining

hotlining  n.— «Sen. Daniel Akaka, the Democratic chairman of the Veterans Affairs Committee, stopped Sen. Kay Bailey Hutchison late Thursday from bypassing the committee process and pushing her bill straight to a vote, a procedure known...

parate execution

parate execution  n.— «Parate execution is a term that defaulting customers of banks fear most. “Parate” is a Dutch term which means “immediate” and “parate execution” basically means a debt recovery process outside the normal...

swaption

swaption  n.— «“Another thing the county can do which the typical homeowner cannot is change interest rates without repaying the debt and taking out a new loan. This is done through what is sometimes called a swap.” Lancaster County...

BONCOB

BONCOB  n.— «As those pseudo-silk purses now unravel, a new acronym has joined the financial argot: BONCOB, pronounced Bon-cob, according to debt traders. Translation (have the children leave the room now): “Bugger off, no chance of...

scratch and dent loan

scratch and dent loan n. a loan or mortgage that has become a risky debt investment, especially one secured with minimal documentation or made by a borrower who has missed payments. (source: Double-Tongued Dictionary)

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