Toxic assets-new vocabulary in crisis

Toxic assets-the finance crisis create a number of puzzling new vocabulary,such as “debt security certificate” and “second mortgage” ?No more than this reference book the “American Heritage Dictionary of business terms,”published a few days ago more timely.After all, which clearly explains many new terms,such as “no-income loans” “toxic assets” and “refinancing cash.” but I am afraid that some of the people demanding to refresh strictly would be objection to this dictionary,because when the dictionary was published,the writer David Scott have not had time to add new vocabulary into the eye,such as “toxic assets” “TARP” as well as the “emergency economic stabilization bill,” and so on.Scott said, “it is frustrating tot find this book can not more adapt to the changes of the times. but based my many years of writing experience,I know that this is the characteristics of the industry.

Google search with “toxic assets” will be 40 million result.”toxic assets”result as bellow

http://www.google.com/search?hl=en&newwindow=1&q=%22toxic+assets%22&btnG=Search

but by 2008, the term appeared in print less than the number of 20 times.Scott said, “last fall, I have not heard the word, then I do not even know where out of circulation.”

it will cost a long time to Publish such a dictionary,In January 2008, Scott turned over the manuscript, in April also increased the number of new words,over the past year,he proofreaded and  printed  repeatly.If not because of the limited available time ,he could have added some notes as investors and insurance companies “Ponzi scam” and “credit default swaps” these two words.Scott also think which is not enough,in fact he can also combin with wheat-Astoria and the example of AIG.

Toxic assets: The banks lended money to people who couldn’t pay them back.Bad mortgages and bad stocks,That mortgage has become a “toxic asset”.

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