fastˈ-and-looseˈ noun

A cheating game practised at fairs, the dupe being invited to put a stick in the loop of a coiled belt so that it cannot be pulled away (also called prick-the-garter)

fastˈ-handˈed adjective

Tight-fisted, mean

fast by

Close to, close by

hard and fast

(of a rule, etc) unalterable, inflexible, strict

play fast and loose

1. (from the cheating game) to be unreliable or shifty
2. To behave without sense of moral obligation
3. To trifle (with with)