" junk bond "

 [ "junk bond" ]

1: (FINANCE) originally, a bond rated as not investment grade by a credit rating agency (e.g., Standard & Poor, Ernst & Young, or Moody's). Later, a bond was a financial instrument deliberately created to have absurdly high levels of risk (of default), which was then priced in and "hedged" by a fund manager. Junk bonds are routinely used to finance leveraged buyouts.

  * e.g.,  ... Michael Milken was the junk bond innovator who figured out how to make them an effective investment vehicle. Yes, he later went to jail for securities law violations. 

 [ "Junk Bond" ]

1: When your nuts stick to the side of your leg.

  * e.g.,  ... Shorty was feelin' homeboy till she saw him pick a junk bond. 

 [ "Junk Bonding" ]

1: Actively pursuing making friends with the wrong people for alternative gain or for self sabotage.

  * e.g.,  ... Example one: Mike: Why are you talking to that guy?