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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.
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}
credit default swap by Abu Yahya July 17, 2010
Lynch swap
a strategy in algebra in which if x/y=z, then y and z can be quickly "swapped" so that x/z=y. Very helpful for quickly solving for a variable.
Named after Mr. Lynch, a Floridian calculus teacher.
Named after Mr. Lynch, a Floridian calculus teacher.
Student θ: Ugh... solving 3/x=4 for x is going to take me like a bajillion steps.
Mr. Lynch: lol just Lynch swap 4 and the denominator x.
Mr. Lynch: lol just Lynch swap 4 and the denominator x.
Lynch swap by peculiargoldfish October 3, 2019
Gravy Swap
Gravy Swap by GravyBoiii December 20, 2021
Vince Staples
Vince Staples is a rapper from Long Beach, California. Formerly associated with the 2NGC Crips and Odd Future rap collective, Vince is one of the hottest young rappers in the game. He's known for his album Summertime 06 and Shyne Coldchain mixtape series.
Vince Staples is the best rapper out the LBC since Snoop. Coldchain the hottest thang bumpin out the city!
Vince Staples by Colt Donovan March 4, 2016
Swapmeet Girl
Swapmeet Girl by Kid_Salami February 24, 2021
Swap Meat
A swinger party held at the county fairgrounds where wives sleep with each other husbands for the night.
Swap Meat by Ranchgirls December 12, 2020
More from Urban Dictionary
Respectfully
Precedes or follows either a gratuitously disrespectful or honest remark, originated in New York City. Used in similar fashion to "no offense" or "to be honest," interchangeably.
Ya mans is wild buns, respectfully. Respectfully he's washed.
After school, The Modells on Jamaica Ave was active. Respectfully.
After school, The Modells on Jamaica Ave was active. Respectfully.
Respectfully by john quan the first December 20, 2020
Word of the Day on September 26, 2026
You met me at a very Chinese time in my life
Dante: "I wish I could be Nigerian, but I can't because I'm Chinese. You met me at a very Chinese time in my life."
You met me at a very Chinese time in my life by Sus Chad September 21, 2026
Word of the Day on September 25, 2026
crunchy
Adjective. Used to describe persons who have adjusted or altered their lifestyle for environmental reasons. Crunchy persons tend to be politically strongly left-leaning and may be additionally but not exclusively categorized as vegetarians, vegans, eco-tarians, conservationists, environmentalists, neo-hippies, tree huggers, nature enthusiasts, etc.
Also used to describe establishments where alternative foods and products are sold, i.e. natural food stores.
Modified derivative of granola.
Also used to describe establishments where alternative foods and products are sold, i.e. natural food stores.
Modified derivative of granola.
murderhobo
In a tabletop game, a murderhobo is a player who murders NPCs indiscriminately. This is normally derogatory, referring to a player who totally ignores quests, dialog, backstory, trade, world building etc.
The term is most common with Dungeons and Dragons, but it can be applied to most RPGs where the player is allowed to kill most quest-giving NPCs and NPC traders. E.g. Elder Scrolls, Fallout, Divinity original sin.
The term is most common with Dungeons and Dragons, but it can be applied to most RPGs where the player is allowed to kill most quest-giving NPCs and NPC traders. E.g. Elder Scrolls, Fallout, Divinity original sin.
DM: The sad little orphan girl tugs at Steve's trenchcoat to get his attention, and ask for help saving her pet dog from...
Steve: I'd like to roll a strength check against strangling the orphan.
Dave: I call dibs on the dog.
DM: You murderhobos disgust me.
Steve: I'd like to roll a strength check against strangling the orphan.
Dave: I call dibs on the dog.
DM: You murderhobos disgust me.
murderhobo by Loup&S September 9, 2021
Word of the Day on September 22, 2026