I’ve written before about my frustration with zombie language in the business world, but while lazy writing and metaphor-use frustrates the hell out of me, I get a not-entirely-wholesome thrill from jargon. Right now I’m reading up on the financial crisis, and I keep coming across little gems. Two of my new favorites:
- novate – to take another party’s place in a trade or deal
- rehypothecate – I have only the sketchiest of ideas what this means, but it’s SUCH A COOL WORD. Sounds like the name of a Star Destroyer – The Rehypothecator. I think it has something to do with loaning based on a deposit – Abe gives me five bucks to hold for him, and in turn I loan those five to Becky at 10% interest, & when Abe wants his money back one period later I make a nice profit. I’ve ‘rehypothecated’ Abe’s $5.
Don’t words like these just make you shiver? They’re like something a wizard would say while rooting around in his workshop. “We must novate your contract with this demon…”
No?
Just me, then.