‘Liar’s Poker’ Author Sees Upside To Market Crash
Michael Lewis, author of a new book called Panic: The Story of Modern Financial Insanity, contends the current Wall Street slump will have some healthy long-term effects, including more moderate financial risk-taking and more proportionate rewards for CEOs.
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Poker lexicon:
- RIVER - The last card dealt in a hand of stud or Hold'em.
- SCOOP - To take all of a pot that is normally split, either by winning both halves outright or winning one half when no players qualify for the other half.
- BURN - To discard the top card of the deck prior to dealing, usually done for every dealing round except the first. The theory being that if somehow the cards are marked (illegally) no one will know what card will next be dealt, only what card will be burned. This makes marked cards less of an advantage, hence tends to reduce cheating.
- BIG SLICK - In Texas Hold'em, hole cards of A-K, suited or not.
- SPLIT [THE POT] - To split the pot between two or more players. Related term: QUARTER.
- GUT SHOT - A draw to an inside straight, as in 2-3-4-6.
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