Toxic asset: n. 1. Sulfuric acid-washed banknote 2. Britney

by SixFigureStart | September 15, 2009

  • My Vault
For anyone who wishes they never heard the phrase 'too big to fail', check out the Wall Street Journal's dictionary of recessionary terms. And get this -- it's satirical! (It's nicknamed The Devil's Dictionary, after the 1906 Ambrose Bierce publication -- also known as The Cynic's Word Book -- which similarly explained the "political and cultural language of the day.")

Case in point, the new definition of 'credit-rating firms': "Firms that do scant rating of people with scant credit." Start memorizing, people! (And if you exhibit flashes of mental brilliance now and then, send us your own definitions via the comments section.)

--Posted by Todd Obolsky, Vault Staff Writer

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