http://www.economist.com/business/displaystory.cfm?story_id=9587542
The credit squeeze
Abandon ship
Aug 2nd 2007
From The Economist print edition
Investors sail into a credit storm amid worries about the debt markets
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Bank executives will be haunted by memories of Ninja loans (to people with No Income, No Job or Assets) and Pik toggles (agreements that gave firms the right to pay interest in the form of further IOUs rather than cold, hard cash).
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Now there’s a term I never heard before — ninja loans!
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Reinke Faces Life 