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.
Matter: The incidence of strategic defaults is higher. at higher credit scores, more recent vintages and. loans with large balances. At low levels of negative. equity, strategic defaults are relatively low but they. pick up steadily as the degree of negative equity.