by Dennis "Big Daddy" Tessier April 13, 2005
Get the Creekrat mug.A description for one who has a brilliant mind and superior intellect accompanied by a boarder line creepy obsession with true crime and or all things mystery. They are probably bad at geography and measurement conversions, but what they lack in skill they make up in witty banter.
by macultra March 20, 2019
Get the Creepophile mug."What's up with Rachel and Burt? I sensed a lot of tension."
"Ah, last weekend Burt pulled the classic hit and cream with Rachel and didn't call her after."
"Yikes."
"Ah, last weekend Burt pulled the classic hit and cream with Rachel and didn't call her after."
"Yikes."
by CodenameGoose July 25, 2017
Get the Hit and cream mug.Creepin Jesus is a term used by the tow trucking industry to describe those who who are act as their dogsbody. The Creepin Jesus is never allowed to perform anything but the most basic of menial tasks, yet they think that they are invaluable to the industry and can often be heard telling whoever will listen, how many friends they have and how important they are. Sometimes the Creepin Jesus will take exception to their name, so other names, such as Bozo and Fuckhead are often substituted. It is easy to identify a Creepin Jesus. Just look for someone in a wheelchair and the Creepin Jesus will be the one running away.
by Kung Of The Duckheads August 26, 2019
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Get the Creatively awesome mug.by via🗿 June 9, 2020
Get the Sweet creature mug.(FINANCE) financial instrument in which buyer is someone who needs insurance against the possibility that a borrower will default on a loan. In that case, the counterparty is whoever receives the CDS premiums, and pays out in the event of default.
WHY IT'S BAD
Loans are usually made by either commercial banks (in which a loan officer is supposed to make a professional assessment of risk of default before handing over the money), or by investment banks (which underwrite securities like bonds). If the borrower has a high risk of default, then the loan should not be made--period.
Credit default swaps were a stupid method of supposedly turning a bad loan into a "risky" (and potentially high-yield) "investment"; they were in reality a strategy for fraud. Since portfolio managers knew they were bundling securitized loans that contained mostly crap, they would arrange credit default swaps and cash in when the borrowers defaulted.
WHY IT'S BAD
Loans are usually made by either commercial banks (in which a loan officer is supposed to make a professional assessment of risk of default before handing over the money), or by investment banks (which underwrite securities like bonds). If the borrower has a high risk of default, then the loan should not be made--period.
Credit default swaps were a stupid method of supposedly turning a bad loan into a "risky" (and potentially high-yield) "investment"; they were in reality a strategy for fraud. Since portfolio managers knew they were bundling securitized loans that contained mostly crap, they would arrange credit default swaps and cash in when the borrowers defaulted.
What the bankers hit on was a sort of insurance policy: a third party would assume the risk of the debt going sour, and in exchange would receive regular payments from the bank, similar to insurance premiums. JPMorgan would then get to remove the risk from its books and free up the reserves. The scheme was called a "credit default swap," and it was a twist on something bankers had been doing for a while to hedge against fluctuations in interest rates and commodity prices.
{Newsweek, "The Monster That Ate Wall Street," 27 Sep 2008}
{Newsweek, "The Monster That Ate Wall Street," 27 Sep 2008}
by Abu Yahya July 17, 2010
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