And just exactly what it states about language, the company press, and just how we look at the crisis that is economic
By Elinore Longobardi
“Lousy loans, ” claims Elizabeth Warren, the chairwoman associated with the Congressional Oversight Panel. We agree. So we such as the phrase, especially given that it offers a good counterweight to that particular other double-L expression, “liar loans, ” which tends at fault the borrower. Warren’s expression is an informal one, needless to say, however in some real means it is far better compared to the language the press has had a tendency to used to characterize the origins associated with the crisis. The truth is, of all terms that are possible describe these lousy loans, the press never ever discovered the right choice. And as we’ll see, the possible lack of a word—one that is single adjective to set up front side for the word “loans” or “lending, ” a word that could encapsulate the boiler-room culture that annexed the mortgage industry—cost most of us plenty.