Acronym for collateralized debt obligation, a funding tool that banks use to package up a bunch of bonds (often subprime mortgage backed), then divide the package up into new bonds and sell them after skimming a few million dollars off the top. Usually called "diversified," but if you've got dog shit, horse shit, ape shit, and elephant shit, then you can call it whatever you want, but at the end of the day you're still just holding a gigantic pile of shit.

A way of putting lipstick on a pig that banks milked the hell out of from the mid-1990's til 2007. Unfortunately the banks got totally Bear Stearned when everyone saw through the lipstick and they were caught holding a whole sty of CDO pigs.
Banker: "I've got this great investment for you. It's called a CDO."
Sucker: "Um...I've heard bad things about those. What's so good about this one?"
Banker: "It's diversified! It's got subprime mortgage bonds from Kansas, subprime mortgage bonds from Georgia, subprime mortgage bonds from Nevada, and subprime mortgage bonds from Michigan!"
Sucker: "I've heard bad things about subprime - do you have anything else?"
Banker: "Of course! This other CDO is even MORE diversified. It's got Ninja loans, loans to homeless people to buy crack, Iraqi government debt, and loans to people that need some money to bet on the roulette wheel in Vegas. Of course there's almost NO chance that any of those people won't be able to pay back what they owe."
Sucker: "SOLD! Give me $10 million of it!"
by Nicholas D March 26, 2008
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Extremely OCD. So OCD that you feel the need to put the letters in alphabetical order.
Dude: Jared is soo OCD.
Dude 2: no man, that kid is beyond OCD, he's CDO.
by fishpaste September 10, 2008
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Stands for:

1. Coochie Doing Overtime: describes the situation a hooker or prostitute has when she booked too many johns for the same time / pussy slot, resulting in a gang bang or double penetration at minimum. Often happens on Friday & Saturday nights.

2. Collateralized Debt Obligation: a security made of mortgages that pays the CDO owner based on mortgage payments.
Yo gurl, I be CDO baby, you finna take summa these bruthas cuz I be haten when my coochie dewin overtime.
by Chestnut + Hazel April 10, 2019
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OCD put in alphabetical order because of an OCD persons tendency to alphabetize.
Person 1: Dude, your so OCD!
Person 2: NO!!! IT"S CDO!!!
by BxTxG January 16, 2011
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OCD sorted alphabetically
Our codebase is a mess, we should do some refactoring. I am looking for someone with CDO to help me out.
by bugpower February 6, 2019
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OCD but in alphabetical order because you have OCD
"Dude you have OCD"
"No I do not! I have CDO as OCD is not in alphabetical order'
by Charlotte hawthorn December 16, 2013
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It stands for Kewl Doods Only!!!
No man you can't go.... CDO!!!!
by KARL March 1, 2005
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