English 中文网 漫画网 爱新闻iNews 翻译论坛
当前位置: Language Tips > 专家点评

Take pennies on the dollars

[ 2013-08-14 14:20] 来源:中国日报网     字号 [] [] []  
免费订阅30天China Daily双语新闻手机报:移动用户编辑短信CD至106580009009

Take pennies on the dollarsThat led to once-unthinkable proposals such as forcing public employees to cut their retirement benefits or demanding that investors in municipal bonds ― long considered among the safest investments ― take pennies on the dollars they lent to Detroit.

My comments:

To take pennies on the dollars is to get short changed, i.e. forcing one to taking a loss on their investment.

You know what pennies and dollars are, I suppose. Yeah, pennies are the smaller sums. A dollar equals 100 pennies. If you invest a dollar and fail to get 100 pennies back, you suffer a loss, hence the saying. Literally, to take pennies on the dollar is to invest a dollar and only get a few pennies in return.

In our example, investors in Detroit’s municipal bonds face the exact prospect of having to take losses on their investment.

Municipal bonds have long been long considered the safest investments, until now.

In case you missed the news, Detroit, the Motown, is bankrupt.

Related stories:

Halo effect?

Throwing them a bone?

A drop of spirit

Bone-dry surface

Get your ducks in a row

Reinventing the wheel

Short leash?

Ceremonial post

Go to Zhang Xin's column


About the author:

Zhang Xin(张欣) has been with China Daily since 1988, when he graduated from Beijing Foreign Studies University. Write him at: zhangxin@chinadaily.com.cn, or raise a question for potential use in a future column.