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Initially, it described collective investment vehicles, often organised as private partnerships, that specialised in combining two investment techniques, short sales (borrowing a security and selling it in the hope of being able to repurchase it more cheaply before repaying the lender) and leverage (buying securities with borrowed money) in a way that reduced risk.
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[Correction – to be clear, today's 100M number includes paid sales, borrows from the library and free downloads of books made through KDP Select promotions.
Without that sale, borrowing would be £2bn higher this year than last.
So I found a plot of land that was for sale, borrowed money from the bank and built a nursing home.
A fiscal and tax overhaul is also needed to wean local governments off their heavy reliance on land sales and borrowing for income, which has led to high local government debt.
Lower interest rates can help homeowners with equity to refinance, or small businesses with strong sales to borrow cheaply.
As in all short sales, he borrowed the shares and sold them immediately, hoping the price would subsequently fall.
Small firms spend about half as much on research and development as large ones per unit of sales and borrow far more relative to assets.
A short sale involves borrowing shares to sell them, hoping the price will fall before they need to be returned at the original price.
Book sales, to borrow an economist's phrase, may be a lagging indicator: past sales are no guarantee of future appeal.
"We'd need to pay the bank £255,000 on the sale for borrowing just £41,250 12 years ago, and so can't buy a replacement home," he says.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com