Definition from Wiktionary, the free dictionary
- (finance) I'll be gone, you'll be gone. (I'll have gotten my commission; you'll have sold out to the next guy; neither of us will be held accountable).
2008 October 14, Thomas L. Friedman, “Why How Matters”, in The New York Times:
- Our financial bubble, like all bubbles, has many complex strands feeding into it — called derivatives and credit-default swaps — but at heart, it is really very simple. We got away from the basics — from the fundamentals of prudent lending and borrowing, where the lender and borrower maintain some kind of personal responsibility for, and personal interest in, whether the person receiving the money can actually pay it back. Instead, we fell into what some people call YBG IBG lending: “you’ll be gone and I’ll be gone” before the bill comes due.
2008, Paul B. Carroll; Chunka Mui, Billion-Dollar Lessons, page 50:
- opens up boundless room for creative financial engineering and no lack of opportunity for alchemy and the manifestation of IBG YBG behavior.