| 单词 | churning |
| 释义 | churning 1) The practice by a broker of encouraging an investor to change investments frequently in order to enable the broker to earn excessive commissions. 2) The practice by a bank, building society, insurance broker, etc, of encouraging a householder with an endowment mortgage to surrender the policy and to take out a new one when seeking to increase a mortgage or to raise extra funds, instead of topping up the existing mortgage. The purpose is to increase charges and commissions at the expense of the policyholder. 3) A government policy of paying a benefit to a wide category of persons and taxing it so that those paying little or no taxes receive it while the well off return it through the tax system. There have been suggestions that a higher child benefit is suitable for churning. |
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