Slush fund

Slush fund

Slush fund is a colloquial term which has come to mean an auxiliary monetary account or a reserve fund. However, the term has special meaning within a context of corrupt (including but not limited to) political dealings by governments, large corporations or other bodies and individuals. Slush funds can have particular elements of illegality, illegitimacy, or secrecy in regard to the use of this money and the means by which the funds were acquired.

Political dealings with slush funds tend to create suspicions of quid pro quo (buying political favors), and can be viewed on the surface as corrupt and subversive of the democratic process. For example, then-senator Richard Nixon was involved in a scandal in 1952 that concerned what was called a "slush fund" of campaign contributions. He went on television with an accounting of the money, and was acquitted in popular opinion.

The term "slush fund" is also used in accounting to refer to a general ledger account in which all manner of transactions can be posted to commingled funds and "loose" monies by debits and credits cancelling each other out.

Another meaning is a fund where one quarter's profits are hidden, in case there isn't enough profit during the next quarter for management to make their bonuses.

Source of term

The term "slush fund" was originally a nautical term; the slush referred to the fat or grease that was obtained by boiling salted meat, the sale of which could then be used to provide the crew with special luxuries. The money obtained from this sale was placed into the so-called 'slush-fund'. [Adkins R: "Nelson's Trafalgar, The Battle That Changed the World.", page 37. Viking Penguin, 2005]

In popular culture

* "The Rock" (1996) - "The Red Sea Trading Company"
* "Swordfish"
* "All the President's Men"

References

External links

* [http://www.clintreilly.com/?p=125 "Anatomy of a Slush Fund" by Clint Reilly]
* [http://www.slate.com/id/2089674/ "Rumsfeld's 9 Billion Dollar Slush Fund" by Fred Kaplan]


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Look at other dictionaries:

  • slush fund — ➔ fund1 * * * slush fund UK US noun [C] FINANCE ► money that is kept by a business or other organization for illegal purposes: »The CEO treated this money as his own personal slush fund and used it to evade taxes. »He was convicted of setting up… …   Financial and business terms

  • slush fund — slush funds N COUNT A slush fund is a sum of money collected to pay for an illegal activity, especially in politics or business. He s accused of misusing $17.5 million from a secret government slush fund …   English dictionary

  • slush fund — ► NOUN ▪ a reserve of money used for illicit purposes, especially political bribery. ORIGIN originally nautical slang denoting money collected to buy luxuries, from the sale of watery food known as slush …   English terms dictionary

  • slush fund — slush′ fund n. 1) bus a sum of money used for illicit political purposes, as for buying influence 2) navig. a fund for a ship s crew, formerly raised from the sale of galley waste, for the purchase of small luxuries …   From formal English to slang

  • slush fund — ☆ slush fund n. 1. Historical a fund established aboard ship from the sale of refuse fat, etc. and used to buy small luxuries 2. money used for bribery, political pressure, or other corrupt purposes …   English World dictionary

  • slush fund — index hush money Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • slush fund — n an amount of money kept for dishonest purposes, especially in politics …   Dictionary of contemporary English

  • slush fund — slush ,fund noun count an amount of money that an organization, business, or political party uses for illegal purposes a. an amount of money kept by a business for things it needs to buy unexpectedly …   Usage of the words and phrases in modern English

  • slush fund — UK / US noun [countable] Word forms slush fund : singular slush fund plural slush funds a) an amount of money that an organization, business, or political party uses for illegal purposes b) an amount of money kept by a business for things that it …   English dictionary

  • slush fund —    A slush fund is an account or fund in politics or business where money is set aside for various unofficial purposes, often unethical or even illegal.     A large commission taken from the slush fund ensured the success of the negotiations …   English Idioms & idiomatic expressions

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