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Cutting House

Truth:

A location where one can "cut" a record or CD, or where records and CD's are cut in volume.  Or, a place where glass is cut for windows, material cut for dress manufacture, diamonds cut for jewelry or industry ...  A financial term?  No.

Scam:

This term is used by con artists to describe a financial institution that actually "mints" securities.  They would have you believe that securities are churned out in volume, almost like paper currency.  They refer to cutting houses as the Primary Market, where securities are created for sale to SECONDARY MARKET portfolios.  

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