Sunday, January 24, 2010


Populist:  A supporter of Populism, a political philosophy urging social and political system change that favours "the people" over "the elites", or favours the common people over the rich and wealthy business owners. Populists are against big business owners.

Teabagger, a whining fool shouting loudly for liberty but not willing to pay the bill.

Robber baron is a term that revived in the 19th century in the United States as a reference to businessmen and bankers who dominated their respective industries and amassed huge personal fortunes, typically as a direct result of pursuing various anti-competitive or unfair business practices. The term may now be used in relation to any businessman or banker who is perceived to have used questionable business practices or scams in order to become powerful or wealthy (placing them in power of everything having controlled most business affairs.)

A political hack is a negative term ascribed to a person who is part of the political party apparatus, but whose intentions are more aligned with victory than personal conviction. The term "hired gun" is often used in tandem to further describe the moral bankruptcy of the "hack".

"Political John", a fomer politician disgraced by a scandal involving hookers.

"Missionaries" Wall Street colloquialism for investment bankers.

Clusterfuck, a chaotic mess that might be compared to group sex, in which participants are so intertwined and intermingled that they might penetrate each other rather than their intended target. Its more precise usage describes a particular kind of Catch-22, in which multiple complicated problems mutually interfere with each other's solution. The looser usage, referring to any chaotic situation, probably prevails. "Healthcare Reform has begun one big clusterfuck."

"The Law of the Jungle" is usually an expression that means "every man for himself," "anything goes," "might makes right," "survival of the strongest", "survival of the fittest" and "eat or get eaten".

"Bankster' a portmanteau or blend word derived from combining "banker" and "gangster." Usually referred to in the plural form "banksters" to refer to a predatory element within the financial services industry, such as those offering "too good to be true" adjustable mortgage rates for home buyers.

BOHICA (also spelled "B.O.H.I.C.A" and Bohica") is an acronym that stands for "Bend Over, Here It Comes Again" - Used colloquially to indicate that an adverse situation is about to repeat itself.

 "There's a sucker born every minute" is a phrase often credited to P.T. Barnum (1810 – 1891), an American showman. It is generally taken to mean that there are (and always will be) a lot of gullible people in the world.

Business oligarch is a near-synonym of the term "business magnate", with a divergence in that business oligarchs represent informal power over a certain region or country because of their increased wealth. The choice of the word oligarch, which theoretically means "one of the few rulers", denotes the significant influence such wealthy individuals may have on the life of a nation.

Kleptocracy, alternatively cleptocracy or kleptarchy, from Greek kleptes (thieve) and kratos (rule), is a term applied to a government that takes advantage of governmental corruption to extend the personal wealth and political power of government officials and the ruling class (collectively, kleptocrats), via the embezzlement of state funds at the expense of the wider population, sometimes without even the pretense of honest service. The term means "rule by thieves".

Klepto Capitalism, an economic system where publicly traded corporations are run not to produce value for shareholders but to provide obscene amounts of wealth for CEOs and top executives.

The iron triangle is a term used by political scientists to describe the policy-making relationship among the congressional committees, the bureaucracy (executive) (sometimes called "government agencies"), and interest groups.

A Hobson's choice is a free choice in which only one option is offered.

The shadow banking system or the shadow financial system consists of non-bank financial institutions that play an increasingly critical role in lending businesses the money necessary to operate.
A fifth column is a group of people who clandestinely undermine a larger group, such as a nation, from within, to the aid of an external or larger enemy.

High Frequency Trading,  computerised Three Card Monte.

Dark Pool, similar to a dark alley.

Perp trading, similar to poker with a marked deck.

"Too Big to Fail" is a phrase referring to the idea that in economic regulation, the largest and most interconnected businesses are so large that a government cannot allow them to declare bankruptcy because said failure would have a disastrous effect on the overall economy.
This results in reckless behavior of the institution since the government will intervene (e.g. by bailing out the company) in the event the institution is going to fail.  One of the biggest US companies referred to as too big to fail is American International Group (AIG). Some critics see the policy as wrong and counterproductive. They think big banks should be left to fail if their risk management was not effective. For example, in the international context, the "too big to fail" policy has been explicitly refuted in the People's Republic of China.[1]

"Too Stupid to Know Better", term applied to former CEOs of Too Big to Fail firms (e.g., Martin Sullivan of AIG, Chuck Prince of Citigroup, Stan O'Neal of Merrill Lynch).

Bucket shop is a brokerage firm that “books" (i.e., takes the opposite side of) retail customer orders without actually having them executed on an exchange.[1] These brokerages are also often called boiler rooms. The term is a defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. [2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. More recently the term has been applied to derivative trading.

A charlatan (also called swindler or mountebank) is a person practicing quackery, quantitative finance or some similar confidence trick in order to obtain money, fame or other advantages via some form of pretence or deception.

A lobbyist is a person who tries to influence legislation on behalf of a special interest or a member of a lobby.  "Treasury Secretary Timothy Geithner picked a former Goldman Sachs lobbyist as a top aide, the same day he announced rules aimed at reducing the role of lobbyists in agency decisions."

The Lost Decade (失われた10年, Ushinawareta Jūnen) is the time after the Japanese asset price bubble's collapse (崩壊, hōkai) within the Japanese economy, which occurred gradually rather than catastrophically. It consists of the years 1991 to 2000 .

America no Ushinawareta Jūnen,  America's prospective lost decade 2009 to _____.

Moral hazard occurs when a party insulated from risk may behave differently than it would behave if it were fully exposed to the risk.

Moron Hazard, a Massachusetts election or similar scenario involving Teabaggers.

The Banking Act of 1933 was a law that established the Federal Deposit Insurance Corporation (FDIC) in the United States and introduced banking reforms, some of which were designed to control speculation[1]. It is most commonly known as the Glass–Steagall Act.

F.U.B.A.R. is an acronym that commonly means "fucked up beyond all repair," "fucked up beyond all recognition," or any of a number of similar constructions. It originated in the United States armed forces, but its usage has spread to colloquial use.

D.U.M.P. is a destitute unemployed mature professional.

A jobless recovery or jobless growth is a phrase used by economists, especially in the United States, to describe the recovery from a recession which does not produce strong growth in employment

C.A.V.E., citizens against virtually everything.

PONZInomics, quantitative finance.

Hooligan Toolery, tools used by thieves and common criminals such as black berries, power point pitches and offering circulars.

A turkey shoot is an opportunity for an individual or a party to very easily take advantage of a situation. It also implies that the "shooter" can't lose. "The Fed's bailout of AIG was a turkey shoot for Goldman Sachs."

[Sources: wikipedia, urban dictionary, Banzai7 Institute]

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