1923. 1  90 years ago today (Oct. 15), the New York Yankees won their first ever championship. The Yankees christened their brand new stadium in the Bronx -- forever known as The House That Ruth Built -- by winning the pennant by 16 games and dispatching the neighboring Giants in six games in the World Series.
Strategic default. A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt, despite having the financial ability to make the payments.
The Oxford Advanced Learner's Dictionary defines this term with Pythagorean precision: by default 1 a game or competition can be won by default if there are no other people, teams, etc. taking part. He became world champion in 2007 by default. 2 if something happens by default, it happens because you have not made any other decision or choices which would make things happen in a different way.