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short sale

short sale  n.— «At Selling Paradise Realty, a sign seeks customers with a free list of properties facing foreclosure and “short sales,” meaning the price is less than the owner owes the bank.» —“This Is the Sound of a Bubble...

market for lemons

market for lemons  n.— Note: Coined by George Akerlof, who won a Nobel Prize in Economics for the paper he wrote that popularized the term. «Indeed, it would seem that a “market for lemons” is rapidly developing in credit...

value pay

value pay  n.— «“This is the heiress bag, this is all about beautiful metallics,” a ShopNBC hostess purred on Friday as the camera closed in on the Lisanne heiress handbag, and a price box popped up ($138 or three “value pays” of $46)...

Michigan 11-pointer

Michigan 11-pointer  n.— «Hunters in northern Indiana refer to them as Michigan 11-pointers—young bucks with nothing more than a couple parallel bones sticking out of their head. They are typically healthy and legal to shoot, but are they...

in-law chaser

in-law chaser  n.— «Perhaps $714 million wouldn’t sound like a bad price if the politicians had to brave what the Navajos call an “in-law chaser” blowing snow into a virtual white-out at gusts up to 50 mph, just so their animals could...

most-favored-nations clause

most-favored-nations clause  n.— «Both the Allison and First Data offerings included what amounts to a buyer’s protection plan against further price cuts on the loans. Under what is known as a most-favored-nations clause, if the banks sell...

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