Definition of the word boiler room

The term "boiler room" was originally used in the 1920s to describe the steam-powered engines that generated electricity and heat in large buildings. These boiler rooms were filled with major machinery, including large, noisy steam boilers, which were necessary to produce the high-pressure steam needed to operate turbines and generators that powered the building's services. However, in the 1980s, another use for the term "boiler room" emerged. In this context, it's used to refer to a small, overcrowded, often cramped sales office where financial scammers persuade people to invest their money in fraudulent or high-risk investment opportunities by using high-pressure sales tactics and unsolicited phone calls. These boiler rooms are also often staffed by salespeople working on commission, known as "boiler room salesmen," who seek to persuade potential investors into making quick, ill-considered decisions.