| Topic: | Re:Re:Time to raise interest rates? | |
| Posted by: | Malcolm Peltu | |
| Date/Time: | 25/03/09 15:40:00 |
| 'Come on guys, cut the jargon, start talking normal English!' I agree that financial specialists should be asked to speak in plain language when communicating outside their specialist circles. Using jargon to obscure their scams was a key strategy of the 'financial engineers' who got us in the mess in the first place. It helped to lead to bankers and others buying 'derivivates' (aka 'toxic waste') including 'subprimes'(= mortgages that were unlikely to be repaid)- and now revealing they never knew what they were buying in the first (but look at the loadsa money we smartypants have got passing the poisoned parcels to all tax payers). Maybe if plainer language had been used the scams could have been stopped sooner. |