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credit default swap

(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.
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}

default dinner

The what to eat decision made for evening meal, usually when out of food.
Damn, the folks are coming over...mac n cheese default dinner? Maybe with hot dog chunks?

Nothing to eat kids. Can smell Jim's grill, though. Sneak over for default dinner.
default dinner by msdee January 5, 2017

Default face

The look on somebody's face when they're just sitting there thinking or are doing nothing & have no other emotions. The a way a person's face naturally falls.
Everybody kept asking me if I was sad today! But, nobody understands that it's just my default face. I've just been zoned out lately.

Dude: Hey, is Shauna pissed off?
Dude 2: Nah, dude, that's just her default face.
Default face by heylobster September 1, 2009

default dinner

The what to eat decision made for evening meal, usually when out of food.
Damn, the folks are coming over...mac n cheese default dinner? Maybe with hot dog chunks?

Nothing to eat kids. Can smell Jim's grill, though. Sneak over for default dinner.
default dinner by msdee January 5, 2017

Default Hot 

Every job has at least one female employee who is considerably more attractive than all the others. She might not actually be that good looking, but it doesn't matter. If you had a job where you only got paid in pennies, finding a quarter would be like winning the lottery. It's all relative.

And, because this one female has the dubious honor of being deemed "default hot" by every male employee at the company (most likely including the creepy store manager who has a daughter the same age) she is rewarded with what could easily be considered non-stop sexual harassment.
Shanaye is only a 6.5 out of 10, but since she's the only female that works here under 30 years old, she's default hot.
Default Hot by surefire13 October 31, 2009

Defaulty 

When the out-of-the-box settings for something are flawed to the point of being broken.
I tried using Ubuntu's Unity desktop, but I discovered right after installing it that it's defaulty.
Defaulty by Mr_Shifty May 9, 2013
More from Urban Dictionary

briefcake 

"Did you check out the briefcake in courtroom C?"
briefcake by Ben Frey April 6, 2006
Word of the Day on November 3, 2026
Brought to public attention by Bob Woodward and Carl Bernstein in the book on the fall of Richard Nixon, All The President’s Men, ratfucker was Nixon’s term for a political operative who sows chaos among opponents; an agent provocateur. It is thought to have originated among campus political rivalries at USC, and seems to have some usage in the US military.
Along with Nixon’s other ratfuckers, Roger Stone caused fights at otherwise peaceful Democratic Party protests to generate a false narrative that the Democrats were violent and dangerous.
Ratfucker by Ricky Ramjet November 2, 2017
Word of the Day on November 2, 2026

countrypolitan 

Term used to describe someone who is a mix of both rural (country) and urban (metropolitan) lifestyles/upbringings. He/she is typically equally comfortable in both settings and is able to seamlessly slip back and forth between the two, appreciating the characteristics of each.
That ol' gal of mine drives the 12 lane freeway during the week and a John Deere on the weekends. She likes opra and the Grand Ol' Opry. I love them countrypolitan women.
countrypolitan by MOChick November 7, 2006
Word of the Day on November 1, 2026

Witch Bath 

A bath consisting of a variety of slats, oils, soaps or any other added ingredients such as fruits, milks, herbs or any other spices for health or beautifying benifits.
She brought home alot of stuff and took it to the bathroom. She must be taking a witch bath.
Witch Bath by carnieboy30 October 26, 2020
Word of the Day on October 31, 2026

kinktober 

An excuse for people to write porn with different types of kinks throughout the month of October.

Smut Fanfiction
That chick doesn't write often but when she does, its for Kinktober.
kinktober by Kinkiest July 12, 2018
Word of the Day on October 30, 2026

proper lad 

a lad that is such a lad that he is a proper lad
person1:did you see bob
person2: ya he was a proper lad
Word of the Day on October 29, 2026
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