Dummies Guide to Credit Crisis Lingo

If you’re like an average joe with little to no background in finance, news about recession and bankruptcy will scare and make you panic. My friend, Lala Rimando, business editor of Newsbreak Magazine, came out with this dummies guide to help you understand the credit crisis lingo.

Article from http://www.abs-cbnnews.com/business/09/26/08/what-subprime-dummies-guide-credit-crisis-lingo; Photo from http://politicalhumor.about.com

With financial jargons leaping from business pages to front page headlines, here’s a guide to understanding the current US financial crisis better.

SUBPRIME or SUBPRIME MORTGAGES

Simply put, they are called subprime since they are below prime status. These are loans lent to borrowers who, as some put it, are considered “NINJA” (no income, no job, no assets). In other words, high risk borrowers: they have tainted credit history or cannot prove their incomes.

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Of Red and White.. Wines

I never was a wine, liquor, champagne or beer drinker.  First, I’m allergic to some of them especially champagne.  Second, I never had the opportunity to try any of those when I was young.  Third, I don’t want to get drunk and do something stupid.  Fourth, I never like the taste.  However, since I joined the corporate world, the need to socialize and drink is needed.  Thus, my quest for alcohol which won’t cause me allergies and suit to my palate began.

Last autumn, Carrefour Shuangjing had its first annual wine fair.  It was a perfect place for me to search for that elusive wine which I will like.  I remember going and trying different kinds of wines from Australia, Italy, Argentina, China, France and US.  After trying several, all of them taste the same.  However, there was one wine which stood out and I came home with 4 bottles of them.  The wine, Brown Brothers Moscato.   Brown Brothers is an Australian wine company.  I have a partiality with Australian companies since that’s the first country outside Asia where I was able to visit.  Also, my first job in Beijing is with an Australian company.